Big Apple Moves Forward With Parking Meter Privatization
In fact, NYC is citing Chicago by name, as the model for what not to do to successfully pull off a meter privatization deal according to the Wall Street Journal.
The WSJ is reporting New York City issued a request for qualification (RFQ) for potential vendors to manage the city’s 80,000+ metered parking spaces on Monday. This is the first step towards requesting bids for the contract and eventually awarding a vendor with a deal to manage the nation’s biggest parking meter system grossing $150 million a year, while netting $93 million a year for the city.
At least one group in New York plans to fight the city’s privatization move.
That’s the aptly named, Traffic Device Maintainers and Parking Meter Service Workers of Local 1455 who have pointed to Chicago’s big parking meter flop in a story on the union’s website.
“Local 1455 and DC37 are fighting all attempts to privatize New York City parking meters for fast cash to help plug the city’s budget gap,” said Local President Mike DeMarco. “This misguided venture will rob our city when it desperately needs proven and reliable revenue streams.” New York City parking meters bring in more than $150 million a year.
While a few American cities have been flirting with the idea, the only other major city to embrace meter privatization has been Indianapolis which privatized it’s parking meter system in 2010
New York’s plunge into meter privatization could be interesting.
Here’s the Journal’s full story, “City Seeks Company to Manage Parking Meters.”