By Mike Dunn

PHILADELPHIA (CBS) – A city councilman plans to hold a hearing on the long-running lease negotiations between the city and SEPTA. He says the city isn’t getting its fair share.

At issue are negotiations on a new lease between SEPTA and the city, which owns properties that include the Broad Street subway and the Frankford half of the Market Frankford EL. That original 40 year lease expired four years ago, and now Councilman Wilson Goode wants answers on the status of the talks, and he wants to look at whether there are alternate ways to use those assets to bring the city new revenues.

“This is in effect an audit, to renegotiate that agreement, to look at what assets we have within SEPTA under that lease/lease back agreement,” Goode says.

SEPTA General Manager Joe Casey sent Goode a letter promising a detailed update on the negotiations after an upcoming session. He said the two sides are “bringing added focus” to the discussions.