A Parking Lot is a Terrible Thing to Waste
Philip Langdon reports that 37,000 parking spaces across New Jersey could be privatized:
"NJ Transit Executive Director James Weinstein suggested that the deal could reap $100 million or more for the agency in 2011, plus additional payments in future years.
NJ Transit, which provides service to 5,325 of the state's 8,722 square miles, issued a request for qualifications in October. Of the ten companies that expressed interest in running the parking lots and garages, seven have met the conditions to pursue a deal. This summer the transit agency expects to take the next major step: issuing a formal request for proposals. If all goes smoothly, a contract could be awarded this fall."
Langdon notes that Boston, Mass. is considering a similar privatization plan.
Thanks to Robert Steuteville