OSU Parking Privatization - News & Updates
May 3, 2012 2:30 pm at 2:30 pm #494416
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-laborMay 3, 2012 2:59 pm at 2:59 pm #494417
That would make the situation clearer.May 6, 2012 5:19 pm at 5:19 pm #494418
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.May 6, 2012 9:32 pm at 9:32 pm #494419
Dispatch supports the privatization plan:
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. [b]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.[/b]
[Emphasis added]May 6, 2012 11:01 pm at 11:01 pm #494420
Just used the Hertz car share at OSU. Anyone have a thought on what would happen to that service?May 7, 2012 1:41 am at 1:41 am #494421
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.May 7, 2012 4:19 am at 4:19 am #494422
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. ;)May 7, 2012 12:05 pm at 12:05 pm #494423
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/May 9, 2012 11:30 am at 11:30 am #494424
NewsParticipantMay 16, 2012 3:37 pm at 3:37 pm #494425
vestanpanceParticipantMay 16, 2012 6:42 pm at 6:42 pm #494426May 16, 2012 9:17 pm at 9:17 pm #494427
This is so typical, Gee discusses lofty goals and proposals while those of us who don’t live with our heads in the clouds are saying “where’s the beef?” I have yet to see and independent analysis show that this is a good deal for the university in the long run. Gee seems not to understand (or is ignoring) the “adverse action” part of the contract as well.June 1, 2012 11:52 am at 11:52 am #494428
Gee says parking could save OSU
By Encarnacion Pyle
The Columbus Dispatch
Friday June 1, 2012 6:54 AM
Ohio State’s future could be filled with huge budget cuts, layoffs and bigger-than-normal tuition increases if the university doesn’t consider taking a payout from leasing its parking operation, President E. Gordon Gee told professors yesterday.
READ MORE: http://www.dispatch.com/content/stories/local/2012/06/01/gee-says-parking-could-save-osu.htmlJune 1, 2012 7:30 pm at 7:30 pm #494429
Vendors have returned proposals to manage the University’s parking operations, and I want to provide highlights of the offers we have received. While all of the bids are robust, we have identified the lead bid, which is: $483 million for the University, and a guaranteed maximum parking rate-increase capped at 5.5 percent for the next ten years. This bid would generate the most money for the University to allocate to core academic purposes while also giving faculty, staff, and students parking rates that would be capped at rates in line with or below historic average increases. Because of the economic climate in which we operate, as well as the feedback we have received on this point over the past several months, we know this is an important criterion for our consideration.
I want to underscore that no decision has been made. As we have previously communicated, we will be holding a series of scheduled informational meetings next week. The data from the lead bid and other bids will form the basis for those conversations. We will also be sharing additional information about how – if we were to pursue a lease – we would retire existing parking-related debt and fully fund campus bus service and transportation costs. We will make a final determination on whether to move forward at the end of next week, and the Board of Trustees will make the final decision at its June meeting.
More information will be forthcoming, and we will continue to update the website <http://www.osu.edu/parkingproposal/>.
Joseph A. Alutto
Executive Vice President and ProvostJune 1, 2012 7:33 pm at 7:33 pm #494430
from above… a guaranteed maximum parking rate-increase capped at 5.5 percent for the next ten years.
What happens after the first 10 years is up? They can increase the percentage every year by any amount they want?
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