OSU Parking Privatization - News & Updates
August 29, 2013 3:39 pm at 3:39 pm #494476
Parking windfall pushes Ohio State’s investment pool past $3 billion
Aug 29, 2013, 10:20am EDT
Staff reporter – Business First
For the first time, the value of Ohio State University’s long-term investments total more than $3 billion, making a huge leap from the long-term lease of campus parking assets.
January 7, 2014 4:45 pm at 4:45 pm #494477
Feed the meter: Ohio State paying $290K for traffic, parking study
January 6, 2014
Ohio State is paying a private consulting firm $290,000 to assess university transportation needs and plan for the future. OSU has hired Massachusetts-based Vanasse Hangen Brustlin Inc., to carry out a study over the next several months, with the information gathering and planning phase kicking off in January and running through May. The study is expected to compile traffic data, such as what entry points students, staff and visitors are using to get to campus.January 7, 2014 5:14 pm at 5:14 pm #494478
We need to be talking how to move more people on and off campus without cars.January 7, 2014 5:34 pm at 5:34 pm #494479
$290,000!!?? They could have had Knowlton students do it for free.January 7, 2014 6:57 pm at 6:57 pm #494480
Why isn’t the private firm that operates OSU’s parking facilities paying for the study?January 7, 2014 8:00 pm at 8:00 pm #494481
The parking deal wasn’t for all of the roads and physical assets. It’s essentially no more than a loan; lots of money up front and they get all the parking fees for a long time). OSU still owns the roads/transportation system and all the parking facilities, and is responsible for developing new ones. The company that operates parking facilities doesn’t have much more to do with that than a cashier working a lane at Kroger has in deciding to remodel the store.February 27, 2014 1:39 pm at 1:39 pm #494482
Ohio State again plans a fee for parking at apartment complex
Students at Buckeye Village are angry again.
A year after Ohio State University withdrew a plan to make students pay for parking at the OSU-owned apartment complex, the school is coming back with new a plan to charge $650 a year for those spots.
“It really is about consistency. We don’t subsidize parking for any group of students,” said Dave Isaacs, a spokesman for OSU’s Office of Student Life.
Objections arose last year after Ohio State leased its parking operation to a private company, CampusParc, which decided to charge students at the complex $620 a year for neighborhood parking spots that until then had been free. Monthly rent at the complex is $545 for a one-bedroom apartment and $685 for a two-bedroom unit.February 27, 2014 3:25 pm at 3:25 pm #494483
Some additional info for you on this, since I am intimately involved in this issue:
-Last year, students at BV delivered a petition to Student Life leadership clearly indicating that they are willing to pay to park, but not at the exorbitant central campus level cost. Most of them never drive to campus, they bus. Hence, they are willing to pay a somewhere between a WC or CX permit cost ($98-138), as opposed to the current WC5 or CPN cost ($402-620) to park in front of their homes. (There is CX parking directly across the street from BV currently).
-This petition was not forwarded to the Parking Advisory Committee, as it should have been, by Student Life. Instead, student leadership received assurances from Student Life leadership that there would not be a time when BV students would pay for parking. This drastically affected any further lobbying efforts that would have happened without those assurances.
-The current permit scheme allows anyone with a similar classification, or higher permit, to park in their spots (think game days, etc).
-These spots were never paid parking previous to the buyout.
-On the Campus Parc map, these spots still aren’t even color coded as permit spots… the only ones on campus not color coded but requiring a permit.
-Many of these families are food insecure. So much so that there are plans to create a food bank for them at BV. Asking them to pay this high level of cost really is asking some of them to choose between having a car and feeding their kids.
-The concession agreement (Article 7.2, specifically) give the University the ability to change permit classifications as they like. It’s not up to Campus Parc. So the idea that this is for “consistency” doesn’t hold water. BV residents are willing to pay, just not at central campus levels. (A CPN designation is mostly for upperclassmen to get parking privileges at central dorms, for instance). No one actually bothered to ask BV residents what they wanted, or were able, to pay for.
-Having not notified the Parking Advisory Committee appropriately last semester that most of the BV residents wanted a change in the permit classification, Student Life now waited until Feb 17th to inform students that they would have to pay the next year. Section 7.2(e)ii of the concession agreement specifically states that the University can change permit classification, but they need to give Campus Parc 180 days notice before the next new cycle of permits (Aug 1). So, notifying students in Feb 17 is 163 days before Aug 1st, effectively giving BV no ability to now lobby for change in time to fix this coming year.
-It should also be noted that none of the $483M from the buyout is being aimed at graduate student family housing. Instead, there has been a continual threat that BV is going to be torn down for athletics. To my knowledge there are zero plans to build anything as a replacement.March 28, 2014 10:22 am at 10:22 am #997522
CoyParticipantMarch 28, 2014 3:18 pm at 3:18 pm #997906
I initially chafed at the notion of privatized parking, particularly when the switch pigeonholed me into a category where I now pay an exorbitant amount of money.
However, I will say that the changes made to the garages, signage, and even the customer service has been nothing but positive so far.March 19, 2015 9:31 am at 9:31 am #1067909
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.
You know sometimes I hate being right.
CFO Geoff Chatas to leave Ohio State
March 18, 2015
Senior vice president and chief financial officer Geoff Chatas will be leaving Ohio State later this year to pursue another job opportunity at the investment firm that financed the privatization of OSU’s parking facilities, the university announced Wednesday.
Chatas has accepted an opportunity with QIC Global Infrastructure, an investment firm based in Australia. Chatas will lead QIC’s infrastructure business in North America, according to a university press release.
In 2012, under Chatas’ leadership, OSU entered into a 50-year, $483 million partnership with QIC, which leased the university’s parking assets to the company.March 19, 2015 8:35 pm at 8:35 pm #1068017
Crony capitalism ? So this guy Chatas gets OSU to sign a 50 year deal. Then gets a job working for that company. Who signs a 50 year deal? I hope there is a criminal investigation.March 20, 2015 8:30 am at 8:30 am #1068052
Crony capitalism ? So this guy Chatas gets OSU to sign a 50 year deal. Then gets a job working for that company. Who signs a 50 year deal? I hope there is a criminal investigation.
I hope so too, it’s pretty obvious what happened. That being said, I’m willing to bet there is no paper trail showing the offer was extended during negotiations and everything was discussed either in person or on the phone. So the University will be fleeced and nobody will be held responsible. Corruption at it’s best/worst.March 20, 2015 8:50 am at 8:50 am #1068056
Why doesn’t Ohio State just make it official and change it’s domain name to http://www.osu.com?April 24, 2015 3:11 pm at 3:11 pm #1073325
Geoff Chatas reverses course, stays at Ohio State
Apr 24, 2015, 7:46am EDT
Reporter – Columbus Business First
Ohio State University CFO Geoff Chatas has reversed course and is staying at the school.
READ MORE: http://www.bizjournals.com/columbus/news/2015/04/24/ohio-state-cfo-geoff-chatas-reverses-course.html
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