Why use a PPP?
Parking needs for municipalities and other institutional users are rising while tax and tuition revenues are either stagnant or will see dramatic reduction in the near future. Through a PPP, the private sector can:
- Be creative in funding and financing capital projects;
- Provide equity for necessary capital projects and conserve bonding power for other capital needs;
- Provide significant experience in developing and managing parking assets, which will lead to cost savings;
- Accelerate the delivery of high priority projects;
- Structure off balance sheet projects;
- Substitute private resources and personnel for constrained public resources; and
- Implement innovative technologies and management techniques.
