DESMAN is on the forefront of Privatization Consulting
March 2009
In consideration of the current economic climate, many forward thinking public entities are investigating the benefits of selling/leasing various components of their infrastructure portfolio to local and foreign investors. Privatization can be a benefit for all involved if implemented properly.
Recently, DESMAN completed a large study for the Privatization of the Chicago Underground Parking System. Working with Morgan Stanley, DESMAN provided due diligence efforts and technical advisory services in support of Morgan Stanley’s successful bid for the 99 year lease concession for the Chicago Underground Parking System. The four garages which make up the system contain a total of 9,178 parking spaces. DESMAN projected the impact of changes in parking demand and operations on the revenue and expenses of the parking system overt the lease period. The study focused on two primary types of changes; short-term and long term. The short term changes reflect revenue enhancements and operational efficiencies while long term trends reflect area growth patterns and underlying inflation growth. Following Morgan Stanley’s successful bid, DESMAN became the technical advisor to Société Générale the major lender. DESMAN has since been working on five other Infrastructure Privatization opportunities.
For those municipalities that prefer to improve their existing parking operation, DESMAN’s staff of operational analysts average 25 years of hands-on real world experience having served as municipal parking administrators in major cities throughout the nation. This experience is key in aiding cities as municipal budgets get leaner and parking revenues become even more critical to a municipality’s bottom line.
Whether it is a parking department, parking enterprise fund, parking authority or any other form of parking management, our analysts can provide viable recommendations to help increase revenues and decrease operational costs. DESMAN can also provide recommendations for industry specific on-street, off-street and enforcement technology as well as staffing and management structures to increase accountability levels while maintaining superior levels of customer service.
DESMAN Associates is on the forefront of consulting services related to privatization of parking assets. We are capable of providing consultation on all of your privatization needs.
For more information contact any of DESMAN's office locations or email at email@desman.com
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