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Week of April 1, 2013

University exploring public-private partnership for parking operations

The university has retained Greenhill & Co. to complete an assessment of whether a public-private partnership (P3) arrangement for parking operations is of value for the Ann Arbor campus and U-M Health System.

A public-private partnership is a contractual agreement between a public entity such as a university or city and a private consortium to finance, operate, maintain and manage parking facilities.

University officials emphasized that this is a preliminary study to determine if leasing parking facilities makes sense for U-M. There has been no decision to lease the parking to a third-party operator.

A number of universities around the country, including Ohio State University and Indiana University, have entered into — or are evaluating — P3 arrangements for their parking operations.

The university’s Finance and Parking & Transportation Services departments are assisting by providing data and background to Greenhill for the P3 assessment.

Greenhill is a leading independent financial advisory firm that facilitates mergers and acquisitions, restructuring, and public-private partnerships.

The university anticipates that the evaluation will be complete this summer.

READER COMMENTS (2) POST A COMMENT 
Posted by Jamie Iseler | Apr 19, 2013
The date for each story in the Record Online is listed at the top of each page, just below the nameplate. Since it is a weekly publication, it lists the week that the issue was published. Regarding your concern that this story is a year old, that is not the case. The hiring of Greenhill & Co. to complete an assessment of a possible public-private partnership to handle university parking occurred just prior to the article's publication. Jamie Iseler, editor
Posted by Jason | Apr 14, 2013
Could you please put the date on what you're writing? I thought this was something new, began looking in to it, and found out that this so-called news is a year old. The concept of putting a date on your article really isn't that hard. all you have to do is put the day, the month, and the year on top of what you're writing. Thought you would know this by now since they teach you how to do that in Kindergarten.


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