I might not have a choice**...
Ohio State University would sell its parking operation for up to $375 million and invest part of the proceeds through its quasi-endowment, under a proposal to go before the board of trustees next week.
Under the plan developed with the Wall Street financial-services firm Morgan Stanley, the university would sell the roughly $30-million-a-year parking revenue stream to private investors, who would run the operation as a for-profit company for up to 50 years.
The estimated $350 million to $375 million that the operation is worth “would be a check that we would receive on Day One,” said Geoffrey Chatas, the university’s chief financial officer.
An undetermined percentage of that cash would be deposited in Ohio State’s quasi-endowment, which invests public and private money to build a funding machine for the future.
The winning firm would be granted the ability to double the parking revenue during the first decade of the contract.
via www.dispatch.com
Can I build a funding machine for the future too? That would save on all that goofy work/paycheck nonsense I go through now.
*I currently pay $720/year to park. That's about $2.75 a work day.
**OK, I have a choice, but 16 miles is a long way to walk or bike each way and there is no public transportation option for my route.
