Richard Perez-Pena reports on the new frontier in the rush to monetize publicly owned resources - the college parking lot.
As state universities try to fill in gaps left by shrinking government support, Ohio State University is on the cutting edge. Following its recent sale of $500 million in 100-year bonds (a first for a public university) and a $25 million exclusive deal for campus A.T.M.'s, Ohio State's latest fund-raising effort echoes a much-maligned parking meter lease concession sold by the City of Chicago.
According to Perez-Pena, "a private bidder has offered $483 million in a lump sum for a lease to operate university parking facilities for 50 years."
"Joseph A. Alutto, the provost, noted that state aid now accounted for only 7 percent of the university's $5 billion annual budget, and that the federal government's budget troubles could lead to even deeper cuts."
"We need to address an increasingly uncertain environment and set some money aside," he said. "We can't go on raising tuition forever. We're looking at all our assets and asking, ‘If they're nonessential assets, how can we turn them into revenue?'"
Perez-Pena notes that, "The plan has stirred controversy
on a campus where, according to the school, about 100,000 students and
employees park each day. Responding to concerns, the university has
included in the deal limits on price increases, and flexibility to
increase parking supply. "
FULL STORY: Ohio State Gets $483 Million Bid for Parking Lease

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Maui's Vacation Rental Debate Turns Ugly
Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.

San Francisco Suspends Traffic Calming Amidst Record Deaths
Citing “a challenging fiscal landscape,” the city will cease the program on the heels of 42 traffic deaths, including 24 pedestrians.

Amtrak Rolls Out New Orleans to Alabama “Mardi Gras” Train
The new service will operate morning and evening departures between Mobile and New Orleans.

The Subversive Car-Free Guide to Trump's Great American Road Trip
Car-free ways to access Chicagoland’s best tourist attractions.

San Antonio and Austin are Fusing Into one Massive Megaregion
The region spanning the two central Texas cities is growing fast, posing challenges for local infrastructure and water supplies.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Heyer Gruel & Associates PA
JM Goldson LLC
Custer County Colorado
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
Jefferson Parish Government
Camden Redevelopment Agency
City of Claremont