“PPPs” & Parking -


Change is UnderWay from Page 18


ens accountability to the public. The lease establishes highly detailed, transparent and enforceable plans for private sector per- formance and creates remedies in favor of the public in the event the private sector fails to honor the specifications established by the lease, including termination of the agreement. In awell-struc- tured PPP, the public clearly has more recourse against a conces- sionaire than it does against a public agency that is not subject to any binding agreement for performance and cannot be removed for its failure to perform. • Risk Transference: A long-term lease enables a city to


receive today a payment for revenue streams that may never materialize during the “out years” of the lease. For example, under Chicago’s lease of itsmetered systemfor 75 years, the city accepted a lump sumthis year for cash flows thatmay ormay not be generated decades fromnow (who knows how we’ll be travel- ling in 50 to 75 years?). In this way, Chicago’s lease astutely assures value capture for the city and is a prudent hedge against “mode shift” from automobiles to other means of transportation and changes in travel behavior generally over the long-term.


What the Critics Say Critics of PPPs claim that public agencies can achieve the


same benefits as the private sector. But the critics disregard the fundamental difference in how governments and businesses


behave, and the impact each model has on value, accountability and the transfer of risk. Critics suggest,moreover, that the private sector realizes val-


ue from what is essentially monopoly pricing of the system, and that the users are vulnerable to price-gouging. In a PPP, however, the rates charged for parking are strictly regulated by the terms of the lease agreement or, as in the case of the Chicago lease, the rate-setting power is retained by the city. Lastly, critics paint a bogyman of the “for profit” operator.


Somehow, it is suggested, the public interest is compromised by reliance on businesses, rather than government agencies, to deliv- er infrastructure to the public. But the claim overlooks that we routinely rely on regulated network utilities to provide electricity, water, telecommunications, freight rail transportation and other essentials, and that we have seen substantial gains in efficiencies within those sectors over the last several decades. In contrast, over the same period, we have seen chronic undercapitalization of infrastructure maintained exclusively by government agencies – a function of the political cycle and not of agency leadership. Is there a greater role for private enterprise in public infra-


structure?Many city officials think there is. For reasons of sound public policy, PPPs for parking facilities will likely become the normover the next several years.


David Horner is Senior Counsel with the law firm Allen & Overy LLP in New York City. He previously served for three years at the U.S. Department of Transportation as Deputy Assistant Secretary for Policy and Chief Counsel of the Federal Transit Administration. His email is David.Horner@allenovery.com.


PT


HAMILTON’S DATA ACCESS NETWORK INCREASES THE SPEED OF TRAFFIC IN YOUR LOTWHILE BOOSTING YOUR REVENUEWORK- ING ALONGWITH HAMILTON’S PARKING PAYSTATIONS.


• HIGH SPEED CREDIT CARD TRANSACTIONS – 3 – 5 SECONDS AUTHORIZATION STANDARD


• REMOTE ACCESS – VIEWAND PRINT AUDITS, CLEAR SOFT ERRORS, CHANGEMESSAGES AND PRICING FROMANYWHERE YOU HAVE INTERNET ACCESS


• E-MAIL OR TEXTMESSAGE – PROGRAMTHE DAN TO E-MAIL OR TEXTMESSAGE NOTIFICATIONS OF PROBLEMSWITH EQUIP- MENT


• EVENT PRICING – PROGRAMSEVEN TIME SENSITIVE EVENTS. CHANGE PRICES, COUPON VALUES, ANDWELCOME PROMPTS


INTRODUCING THE DATA ACCESS NETWORK


• PRE-PAY OR POST-PAY VALUE CARDS – FOR ADDED CONVE- NIENCE USE HAMILTONS VALUE CARDS. CUSTOMIZABLEWITH YOUR COMPANY LOGO AND TEXT


www.hamiltonmfg.com 888-723-4858 20 MAY 2009 • PARKING TODAY • www.parkingtoday.com


Pay & Display


Gold Line Parking


Time Pass


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76