RSS
Twitter
Facebook
YouTube
Like kings we'll live!
Columbus Underground Messageboard » General Columbus Discussion
OSU Parking Privatization - News & Updates
[90 posts] [34 contributors]
Topic Rating:
(Total Ratings: 2)
Rate this topic:
Rate this topic:
-
gramarye
In Exile
Login to Send PM
James said:
If true, that would put me against the proposal.Likewise. I started out ambivalent--running parking decks isn't necessarily in a university's core competency--but that "compensation event" provision is just ridiculous. It's not just conceptually flawed, but it would be absurd in execution. What if OSU wants to add a bus route (ostensibly reducing the demand for parking), but also increases enrollment by 1000 and staff by 500? Does the increased demand offset the increased alternative mobility options, or would the contract discount the increased population and simply demand payment for adding a bus route? What if the university builds more dormitories closer to the heart of campus, bringing more students to campus but fewer that will need cars?
Could this clause, depending on its wording, affect the university's decision to renew its contract with COTA for unlimited ridership on COTA buses, if COTA's service expands or improves? Would OSU's action in renewing that contract be an action that reduces the demand for parking on campus and requires compensation to the private equity investors buying the parking facilities?
Would this completely torpedo OSU's ability to be a player in the future development of a streetcar up and down High Street? What if that led to decreased demand for parking in the short term but increased demand for parking in the long term, due to higher residential population density in new developments along that line? Would we pay the investors up front, but then get reimbursed later? (I highly doubt it. Once these private equity groups get money from you, you don't get it back without a lawsuit.)
I get that you wouldn't want the university to put a sidewalk and curb across one of the entrances to the parking garages and seal it off. I get that you wouldn't want to university to take steps to unduly restrict who could buy parking passes after privatization (though of course, there are already plenty of restrictions on that score as things stand). That notwithstanding, this "compensation event" clause raises a lot of questions. I'd be interested in seeing the actual text of it, if it's posted anywhere. Doesn't look like it is; looks like this is all being done behind closed doors.
Posted 1 year ago # -
vestanpance
Harrison West/at work OSU
Login to Send PM
James said:
If true, that would put me against the proposal.OSU put up an explanation today http://www.osu.edu/parkingproposal/updates-answers/
Posted 1 year ago # -
NerosNeptune
Goodale Park
Login to Send PM
That reads like pretty standard PR bullshit. Hey guys don't worry about it for a few more months until the contracts are signed. Everything will be great, we promise!
He didn't address the main concern which is that OSU can't come up with anything new for 50 years. Put in real bike lanes and other efforts to significantly increase the number of students/workers biking? No. Move more students on campus (already doing it), and prohibit them from keeping cars on campus? No. There is no way these money sucking companies would be willing to do this if they couldn't make a ton of money, which would require OSU to promise them the status-quo for the next 50 years. So much for leading the way.
And kiss Pedal Instead goodbye for OSU football. That's a lot of lost revenue $15/bike. Or the COTA park and rides from the fairgrounds, the leeches will need to get fed extra in exchange for that I'm sure. Not just the loss of these things, but none of these new ideas would ever happen under an operation who's main goal is to extract money out of these activities and ship it to Wall St. or Australia.
Posted 1 year ago # -
lifeontwowheels
Highland West
Login to Send PM
NerosNeptune said:
That reads like pretty standard PR bullshit. Hey guys don't worry about it for a few more months until the contracts are signed. Everything will be great, we promise!He didn't address the main concern which is that OSU can't come up with anything new for 50 years. Put in real bike lanes and other efforts to significantly increase the number of students/workers biking? No. Move more students on campus (already doing it), and prohibit them from keeping cars on campus? No. There is no way these money sucking companies would be willing to do this if they couldn't make a ton of money, which would require OSU to promise them the status-quo for the next 50 years. So much for leading the way.
And kiss Pedal Instead goodbye for OSU football. That's a lot of lost revenue $15/bike. Or the COTA park and rides from the fairgrounds, the leeches will need to get fed extra in exchange for that I'm sure. Not just the loss of these things, but none of these new ideas would ever happen under an operation who's main goal is to extract money out of these activities and ship it to Wall St. or Australia.
Part of me worries about the effect the new privatization contract would have on us. Honestly I don't know how much impact we actually have on parking revenues. We hit mid 400s in the early part of the season and taper off to about 150-200 by mid-November. But we get a lot of families/couples/groups, so maybe 150-200 actual car spots?
The other part knows that we're freaking awesome, we kick ass, innovate and set the bar higher on ourselves every year. I am confident that a private source of funding would step forward to continue our work at OSU because of the quality we bring.
Posted 1 year ago # -
James
Upper Arlington
Login to Send PM
gramarye said:
That notwithstanding, this "compensation event" clause raises a lot of questions. I'd be interested in seeing the actual text of it, if it's posted anywhere. Doesn't look like it is; looks like this is all being done behind closed doors.This does smell fishy. The lousy casino deal was written by the casino backers, and passed by citizens in a moment of economic desperation. I understand why that deal was a give away, and I give kasich credit for extracting more money for the state. But this deal, if it is as bad as it seems, is puzzling. The university is under no pressure to do this, and there is no reason to give away so much. If they really want to get more value they can outsource the operations only of parking as a service with a payment schedule that decreases over time. Separately I think there many bans and investors who would loan the university an up front sum using the stream of parking revenues as collateral, without signing over all profits.
Posted 1 year ago # -
NerosNeptune
Goodale Park
Login to Send PM
They're offering free parking on OSU property.. I'm not saying it will go away, but I can certainly see the carlyle group having something to say about it. Even if Pedal Instead finds outside funding, they set up on OSU property and I'm sure would need their permission.
But even if they allow it as a good will pittance, the worst part is that nothing new and cool like this will have any chance of happening again at OSU until we're all at least 70, 80, 90 years old.
Posted 1 year ago # -
Analogue Kid
Olentangy West
Login to Send PM
James said:
But this deal, if it is as bad as it seems, is puzzling. The university is under no pressure to do this, and there is no reason to give away so much. If they really want to get more value they can outsource the operations only of parking as a service with a payment schedule that decreases over time. Separately I think there many bans and investors who would loan the university an up front sum using the stream of parking revenues as collateral, without signing over all profits.The reason this deal is being pushed so hard is because of one person: Geoff Chatas. He is buddies with Gee, and having worked in the financial sector, he helped swindle the City of Chicago out of billions when they privatized parking there. Presumably, he wants to get this deal done and move on, leaving the rest of us to deal with the fallout.
http://www.huffingtonpost.com/aaron-renn/can-chicago-get-out-of-it_b_808924.html
Posted 1 year ago # -
ExileOn6thSt
Weinland Park
Login to Send PM
I could be wrong, but I'm thinking that this and other money grabs are at least partially about raising funds to finish Wexner's hospital expansion on time. Even with Wexner's donation and the bonds they've sold, I think they're still short by a good distance. The school is also looking at selling off all rights to OSU apparel (10 year deal I believe) to a company owned by Jerry Jones of the Dallas Cowboys. It also seems to be shortsighted and desperate, so the desperation has to be coming from somewhere, right? The apparel deal is mentioned in this article: http://espn.go.com/espn/otl/story/_/id/7435424/dallas-cowboys-dip-sports-apparel-business-comes-allegations-sweatshop-labor
Posted 1 year ago # -
mrsgeedeck
Castle of Lions
Login to Send PM
Looks like the city of Chicago is running into some issues with their parking company whose is charging the city 27 million dollars in unpaid fees.
Posted 1 year ago # -
Cole
Hilltop
Login to Send PM
Dispatch supports the privatization plan:
http://www.dispatch.com/content/stories/editorials/2012/05/06/parking-dividend.html
Within the same article, the Dispatch supports biking, buses, park and rides, and etc.
The demand for parking nearly always exceeds supply on campuses, though; if the university were to drop parking rates to a rock-bottom level, it simply would stimulate more demand. Students who don’t have cars shouldn’t have to subsidize cheap parking. And while a college needs to make parking available, there are other options for the truly cash-strapped, including biking, bus service, park-and-ride lots, etc.
[Emphasis added]
Posted 1 year ago # -
lifeontwowheels
Highland West
Login to Send PM
Just used the Hertz car share at OSU. Anyone have a thought on what would happen to that service?
Posted 1 year ago # -
rory
Weinland Park
Login to Send PM
johnwirtz said:
This is the first I've heard of this. In Chicago, the deal has been a complete disaster. Other than being grossly under compensated, the City doesn't control it's own ROW anymore. I worry that OSU would run into the same issues.Not controlling your right-of-way?! Didn't anyone read it? OSU would never be that stupid. ;)
Posted 1 year ago # -
johnwirtz
Glenview, IL
Login to Send PM
rory said:
Not controlling your right-of-way?! Didn't anyone read it? OSU would never be that stupid. ;)I saw the statement they have a cushion of 2,200 spaces to work with. That might be enough, but if I'm OSU, I'd rather have complete flexibility in the future. See the Urbanophile's discussion of policy risk here:
http://www.urbanophile.com/2010/08/22/parking-meters-and-the-perils-of-privatization/Posted 1 year ago # -
News
Columbus Underground
Login to Send PM
-
vestanpance
Harrison West/at work OSU
Login to Send PM
Get the Flash Video Posted 1 year ago #
You must log in to post.
Launched in August 2010, TheMetropreneur.com is a local online resource devoted to small business development and entrepreneurship. Its aim is to tell the stories of Central Ohio's business community, foster regional economic development and assist entrepreneurs with its resource-heavy focus.