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Gee is a little turd. Leasing public assets at bargain basement rates is fiscally irresponsible.
Columbus Underground Messageboard » General Columbus Discussion
OSU Parking Privatization - News & Updates
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local champion
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joev said:
Gee is a little turd. Leasing public assets at bargain basement rates is fiscally irresponsible.I am against the sale, but how did you arrive to the conclusion that this is a bargain basement price? What value did your present value calculation yield? What growth rate did you use in your revenue projections? What discount rate did you use to discount the cash flows? Just curious because from what I can tell this was a fair market price for the asset. I have other reasons I am against the sale personally.
Posted 11 months ago # -
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OSU picks its parking contractor
By Encarnacion Pyle
The Columbus Dispatch Saturday June 9, 2012 7:55 AMIt looks as if Ohio State University administrators think $483 million is too good a deal to pass up. Campus officials announced yesterday that they plan to ask the Board of Trustees on June 22 to approve leasing OSU’s roughly $28 million-a-year parking operation to QIC Global Infrastructure and its partner, LAZ Parking, for the next 50 years.
READ MORE: http://www.dispatch.com/content/stories/local/2012/06/09/osu-picks-its-parking-contractor.htmlPosted 11 months ago # -
Analogue Kid
Olentangy West
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local champion said:
I am against the sale, but how did you arrive to the conclusion that this is a bargain basement price? What value did your present value calculation yield? What growth rate did you use in your revenue projections? What discount rate did you use to discount the cash flows? Just curious because from what I can tell this was a fair market price for the asset. I have other reasons I am against the sale personally.
But a transportation official for Texas A&M University who has examined Ohio State’s bid thinks it would be a bad idea to copy it. The only reason that private investors are interested is because they stand to make around $5 billion — far more than the $483 million they would pay OSU, said Kenneth Kimball, the assistant director for fiscal operations and compliance at Texas A&M’s transportation-services office.“If money is needed right now for projects that would help retain the student population — the only valid reason to do this — doesn’t the Ohio State University have a cheaper source (of money) through bonds?” Kimball said.
From http://www.dispatch.com/content/stories/local/2012/06/11/osu-prepares-for-possible-hits-to-government-funding.htmlPosted 11 months ago # -
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Get the Flash Video Posted 11 months ago # -
Analogue Kid
Olentangy West
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^lol Democrats and Republicans both agree this sounds like a bad deal
Posted 11 months ago # -
local champion
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Analogue Kid said:
But a transportation official for Texas A&M University who has examined Ohio State’s bid thinks it would be a bad idea to copy it. The only reason that private investors are interested is because they stand to make around $5 billion — far more than the $483 million they would pay OSU, said Kenneth Kimball, the assistant director for fiscal operations and compliance at Texas A&M’s transportation-services office.“If money is needed right now for projects that would help retain the student population — the only valid reason to do this — doesn’t the Ohio State University have a cheaper source (of money) through bonds?” Kimball said.
From http://www.dispatch.com/content/stories/local/2012/06/11/osu-prepares-for-possible-hits-to-government-funding.htmlMeaningless. It's simple present.value. 5 billion over 20 years is not the same as 5 billion today, a dollar today is worth more than a dollar a year from now. Why do you think the lump sum for the lottery is a lot less than the annuity.
Posted 11 months ago # -
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OSU board set to privatize parking for $483 million
By Alissa Widman
The Columbus Dispatch
Friday June 22, 2012 8:39 AMOhio State University’s board of trustees is set to vote today to lease its parking operation to private investors for $483 million. The board’s finance committee unanimously approved a resolution yesterday that calls for Ohio State to lease its roughly $28 million-a-year parking operation to QIC Global Infrastructure and its partner, LAZ Parking, for the next 50 years.
READ MORE: http://www.dispatch.com/content/stories/local/2012/06/22/osu-board-set-to-privatize-parking-for-434m.htmlPosted 10 months ago # -
johnwirtz
Glenview, IL
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1. I'd like to see more details on this, specifically about the ability of the university to reduce the number of parking spaces on campus on a temporary or permanent basis without penalty. I don't want to see OSU have the same problems Chicago now has.
2. 50 years is too long. I don't think they should be leasing anything for more than 5 to 10 years.Posted 10 months ago # -
Analogue Kid
Olentangy West
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johnwirtz said:
1. I'd like to see more details on this, specifically about the ability of the university to reduce the number of parking spaces on campus on a temporary or permanent basis without penalty. I don't want to see OSU have the same problems Chicago now has.
2. 50 years is too long. I don't think they should be leasing anything for more than 5 to 10 years.Per Geoff Chatas, those details are confidential. I said it before and I'll say it again, OSU has no clue what they just got themselves and all faculty, staff, and students into.
Posted 10 months ago # -
ExileOn6thSt
Weinland Park
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Guessing the real winners in this deal will be lawyers. They'll have plenty of work to do once this deal goes south.
Posted 10 months ago # -
johnwirtz
Glenview, IL
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Analogue Kid
Olentangy West
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Fees For Ohio State Parking Permits And Hourly Parking Increasing
February 15, 2013
by Tom Borgerding
89.7 NPR News Managing Editor
The private operator of Ohio State University parking operations has increased hourly rates at the 18 campus parking garages. The higher parking garage rates are the first of more planned changes.
Posted 3 months ago # -
mrpoppinzs
Arena District
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I wonder if (and most likely when) this will affect the South Campus Gateway. They are increasing short term rates by 50%.
“QIC paid for the system; there are some expectations on revenue,” Blouch says.
Posted 3 months ago # -
joshlapp
Short North
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cbus11
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joshlapp said:
Is gateway owned by OSU or Campus Partners?The South Campus Gateway garage as well as all other campus garages are leased to CampusParc now. I had heard they were not going to change the rates there until at least the summer. Of course that is now all in the hands of a private company looking to make $$$ on its half billion dollar investment.
Posted 3 months ago # -
mrpoppinzs
Arena District
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If they extend the CABS route down to 7th in Weinland Park as I have heard talk of, they will also need to start making the area permit parking. I can see students tempted to save some money by parking for free, especially if they have to take a CABS bus anyway (they are all being pushed to west campus).
Posted 2 months ago # -
Analogue Kid
Olentangy West
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And the screwing begins:
Buckeye Village parking charges spark petition from residentsBy Hailey Fairchild
fairchild.84@osu.edu
Published: Wednesday, March 6, 2013
Updated: Wednesday, March 6, 2013 23:03Buckeye Village is located across the Olentangy River on Defiance Drive near Jesse Owens Memorial Stadium.
Parking spaces at Buckeye Village that were once free will cost more than $600 next year, and some residents aren’t happy.
Some residents of Buckeye Village, located across the Olentangy River on Defiance Drive near Jesse Owens Memorial Stadium, gathered Tuesday to protest the charge and sign a petition.
Posted 2 months ago #
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