Author Topic: Parking Privatization: Jacksonville vs. Nashville  (Read 5187 times)

Tacachale

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Parking Privatization: Jacksonville vs. Nashville
« on: November 25, 2019, 08:43:28 AM »

Quote
Jacksonville isn't the only ville that has explored privatizing its parking. Nashville recently looked at a proposal that greatly exceeds Jacksonville's in terms of money generated for the taxpayers, $325 million over 30 years compared to Jacksonville’s $197 million.

Read more: https://www.thejaxsonmag.com/article/parking-privatization-jacksonville-vs-nashville/
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Charles Hunter

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Re: Parking Privatization: Jacksonville vs. Nashville
« Reply #1 on: November 25, 2019, 09:32:02 AM »
Good article.  If we go down this path, I would hope the City of Jacksonville retains control of parking policy and rates, instead of turning it over to the contractor.

Non-RedNeck Westsider

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Re: Parking Privatization: Jacksonville vs. Nashville
« Reply #2 on: November 25, 2019, 10:04:37 AM »
So if I'm reading this right...

This is the basic requirement:

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Initial payout: $6,000,000
Annual minimum contribution to DIA: $1,092,277.49
30 year estimate (minimum contribution): $32,768324.70

And this is the estimated 'perfect-world scenario' based on arbitrary number-soup formulation (possibly the same one that Curry used on the Pension plan) contribution:

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Estimated total contribution to city over 30 years: $196,609,948.20 (if the “combined profitability to city” is annual).

Or in layman terms - we expect 600% growth in 30 years....

Give me a fucking break. 
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Tacachale

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Re: Parking Privatization: Jacksonville vs. Nashville
« Reply #3 on: November 25, 2019, 10:09:34 AM »
So if I'm reading this right...

This is the basic requirement:

Quote
Initial payout: $6,000,000
Annual minimum contribution to DIA: $1,092,277.49
30 year estimate (minimum contribution): $32,768324.70

And this is the estimated 'perfect-world scenario' based on arbitrary number-soup formulation (possibly the same one that Curry used on the Pension plan) contribution:

Quote
Estimated total contribution to city over 30 years: $196,609,948.20 (if the “combined profitability to city” is annual).

Or in layman terms - we expect 600% growth in 30 years....

Give me a fucking break.

And even then, the numbers are more than $100 million lower than a deal that Nashville ultimately rejected.
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bl8jaxnative

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Re: Parking Privatization: Jacksonville vs. Nashville
« Reply #4 on: November 25, 2019, 11:15:51 AM »

This sort of scheme has been around for a long time.  I don't know if I've ever seen any of the parking deals turn out well for a city.


https://chicago.suntimes.com/2018/5/14/18348206/parking-meter-deal-keeps-getting-worse-for-city-as-meter-revenues-rise

Kerry

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Re: Parking Privatization: Jacksonville vs. Nashville
« Reply #5 on: November 26, 2019, 10:02:41 AM »
The fact that any company could come in and propose a parking agreement that updates the technology, increases the number of parking spaces, keeps revenue to the City the same (or even increases it), AND generates huge profits just shows how mismanged parking currently is.
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vicupstate

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Re: Parking Privatization: Jacksonville vs. Nashville
« Reply #6 on: November 26, 2019, 10:22:36 AM »
The fact that any company could come in and propose a parking agreement that updates the technology, increases the number of parking spaces, keeps revenue to the City the same (or even increases it), AND generates huge profits just shows how mismanged parking currently is.

OR ....... how much they intend to raise the cost of parking, and the areas that are being charged for it.

With #LyingLenny involved, get ready to drop trou and bend over JAX.
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Non-RedNeck Westsider

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Re: Parking Privatization: Jacksonville vs. Nashville
« Reply #7 on: November 26, 2019, 11:24:13 AM »
The fact that any company could come in and propose a parking agreement that updates the technology, increases the number of parking spaces, keeps revenue to the City the same (or even increases it), AND generates huge profits just shows how mismanged parking currently is.

Are you intentionally being dense?

Because the devil's always in the details (contract) and I promise that whatever contract is written will have clauses that guarantee a certain amount of 'profit' for the private company.  (I'd present our current parking garage contracts as exhibit A thru infinity)

If those thresholds aren't met, I can promise you that there's no contribution to the city and will likely (again) include payments from the city to said company to meet financial expectation.

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Steve

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Re: Parking Privatization: Jacksonville vs. Nashville
« Reply #9 on: November 26, 2019, 02:33:40 PM »
Highlights (since, paywall):
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At the same time, it decided to not vote on a plan former board member Dane Grey had proposed at the committee’s last meeting. That plan would give Grey’s company, Elite Parking Services of America, a 30-year lease on seven city-owned parking garages, as well as control of on-street downtown parking and any future city-owned parking garages.

Umm...ok. Not sure if I like this or not. We study a lot.

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Grey’s plan hasn’t been outright rejected, however: Tabling a vote on it — instead of outright rejecting it — has the benefit of giving the staff “breathing room” to develop its strategy, Boyer said, since it puts a “cone of silence” in place around the entire issue.

Anyone involved in city government should use the phrase "cone of silence" about as often as Watergate. Sorry, Curry and his boys tainted that one for the future.

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The biggest question might be a philosophical one: Is the DIA’s goal for parking to raise revenue, attract more businesses, make downtown easier to visit or some mixture of motivations?

Bingo. I don't see how privatizing parking will, overall, be better for business.

Bottom Line: We do a lot of individual studies. I'm not sure we do a great job with overall strategic planning and implementation. As written this was a bad proposal so I guess I'm glad they didn't vote on it. But, I'm not convince the end result will be better.

Kerry

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Re: Parking Privatization: Jacksonville vs. Nashville
« Reply #10 on: November 26, 2019, 10:05:52 PM »
The fact that any company could come in and propose a parking agreement that updates the technology, increases the number of parking spaces, keeps revenue to the City the same (or even increases it), AND generates huge profits just shows how mismanged parking currently is.

OR ....... how much they intend to raise the cost of parking, and the areas that are being charged for it.

With #LyingLenny involved, get ready to drop trou and bend over JAX.

Under-charging for parking is part of the mismanagement.
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vicupstate

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Re: Parking Privatization: Jacksonville vs. Nashville
« Reply #11 on: November 27, 2019, 08:33:13 AM »
The fact that any company could come in and propose a parking agreement that updates the technology, increases the number of parking spaces, keeps revenue to the City the same (or even increases it), AND generates huge profits just shows how mismanged parking currently is.

OR ....... how much they intend to raise the cost of parking, and the areas that are being charged for it.

With #LyingLenny involved, get ready to drop trou and bend over JAX.

Under-charging for parking is part of the mismanagement.

When they stop under-charging for parking and transit at St. John's Town Center, then we can take a look at it. Right now i would say that DT is being over-charged considering the inconvenience of the outdated current system.   
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Steve

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Re: Parking Privatization: Jacksonville vs. Nashville
« Reply #12 on: November 27, 2019, 09:08:15 AM »
The fact that any company could come in and propose a parking agreement that updates the technology, increases the number of parking spaces, keeps revenue to the City the same (or even increases it), AND generates huge profits just shows how mismanged parking currently is.

OR ....... how much they intend to raise the cost of parking, and the areas that are being charged for it.

With #LyingLenny involved, get ready to drop trou and bend over JAX.

Under-charging for parking is part of the mismanagement.

Not necessarily. It depends what the goal is of the city running parking. For example, if the city’s goal is to break evenin order to help cultivate a more friendly environment, they they will certainly charge below market rate.

This is where I agree with Boyer, but am concerned about the process. Public Parking does need to have a stated mission and vision as it relates to Downtown.

thelakelander

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Re: Parking Privatization: Jacksonville vs. Nashville
« Reply #13 on: November 27, 2019, 09:54:43 AM »
All this sounds backwards. What is the vision for DT and specific city owned parcels first? When that's fully known and understood, then we should talk how things like incentives, mass transit (sorry U2C) and parking management, etc. best play a role in incrementally implementing that vision.
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Steve

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Re: Parking Privatization: Jacksonville vs. Nashville
« Reply #14 on: November 27, 2019, 12:37:18 PM »
All this sounds backwards. What is the vision for DT and specific city owned parcels first? When that's fully known and understood, then we should talk how things like incentives, mass transit (sorry U2C) and parking management, etc. best play a role in incrementally implementing that vision.

No dispute there. Setting parking rights is like chapter 10 of a book. Boyer wants to go back and see what the vision is for parking. That’s like going from chapter 10 to chapter 8. We still haven’t read and digested the first few chapters though.