Asset Privatization isn’t just for the big cities anymore. Harrisburg, Pennsylvania, with a population of only 49,500, has been approached by Morgan Stanley and as many as ten other companies who are seeking to take ownership of the city’s parking assets.
Harrisburg has 10 parking garages, five surface lots, and 1,250 metered spaces, according to an article in BusinessWeek. In 2010, those facilities generated $13.8 million in revenue.
The city also is taking bids on other assets including a zero-waste incinerator and the water & sewer systems.
Click here to read the original BusinessWeek article. The Web sites for Ma href=http://harrisburgpa.gov">Harrisburg and the Harrisburg Parking Authority lack information on the development, but Gov1 tracked down the RFP from the Web site of the city council.