"PPPs" & Parking - Change is Under Way

This article looks at how public private partnerships (PPPs) may have the potential to help cities in meeting their fiscal needs in parking operations. The article presents three primary reasons for implementing a PPP for municipal parking operations. A lease or revenue sharing arrangement with a private operator can create an annuity for funding a municipality's long term liabilities. PPPs are also considered to be politically more feasible, with corporate names having more visibility with the public. Thirdly, a PPP for municipal parking offers significant monetary value for a city, promotes long term stewardship of the asset, and leads to heightened accountability to the public by creating a detailed, transparent and enforceable plan for private sector performance. Finally, a PPP offers risk transference by enabling a city to receive payment for revenue streams that may actually never materialize. The article concludes with a few observations from critics of PPPs in which potential shortcomings such as price-gouging by "for profit" operators, are briefly discussed.

• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/oclc/37532602
• Authors:
  • Horner, David
• Publication Date: 2009-5

Language

• English

Media Info

• Media Type: Print
• Pagination: pp 18, 20
• Serial:
  • Parking Today
  • Volume: 14
  • Issue Number: 5
  • Publisher: Bricepac, Incorporated
  • ISSN: 1095-5062
  • Serial URL: http://www.parkingtoday.com

Subject/Index Terms

• TRT Terms: Cities and towns; Financing; Parking; Parking facilities; Public private partnerships
• Subject Areas: Administration and Management; Economics; Highways; I10: Economics and Administration;

Filing Info

• Accession Number: 01129795
• Record Type: Publication
• Source Agency: UC Berkeley Transportation Library
• Files: BTRIS, TRIS
• Created Date: May 29 2009 8:49AM