The driver concerned should be charged the entire repair cost. Surely, if they've done a legger they were caught on CCTV ! There are enough cameras around the city.
This kind of thing is just totally unacceptable, the city centre isn't a go-cart track.
These repairs are going to be extremely expensive, we could be talking tens, if not hundreds of thousands. If this comes from the City's budget, it means that some other service or facility or project gets starved of cash.
Apart from that, driving like that through a city centre is likely to cause deaths.
These guys need to be cracked down upon very hard e.g. jail time for dangerous driving, driving bans and if they're not insured, their cars seized and crushed.