Pages

Monday, January 15, 2007

Privatize the Town Center parking ramp?

Or at least take bids, to see what the thing is worth - in a market. It might be an eye-opener, to see how the market values that kind of "asset."

It is not unthinkable, Chicago has been privatizing parking structures, for good cash, and is even looking to privatize its Midway Airport. There are pros and cons, but Ben deserves a spectrum of choice, Ben the Ramsey taxpayer out in the cold across from the new city hall.

They would not privatize the new city hall, would they, possibly with sale-leaseback voodoo economics and such? Would they? If so what would be the rights of the City to default and downsize the payroll appropriately and move to more modest housing? Executory contracts can be voided in a bankruptcy proceeding, and where is this council taking us, and Ben?

It's all hypothetical, isn't it?