- Aug 03, 2016
Full and original article posted on Telegram.com
Somewhere between the extremes of the city of Worcester owning and operating all of its on- and off-street parking assets for the purpose of economic development and a full privatization of those assets which would maximize profitability, lies the city’s solution for Worcester in optimizing public assets. The Worcester Regional Research Bureau, in its recent study of Worcester parking assets chose the former, by adding yet another layer of government by recommending a politically-chosen Parking Commission and parking czar. This is the wrong recommendation.
This piece, however, is not being written to advocate for privatizing Worcester’s parking assets. Frankly, that would be an impossibility because no sane investor would want an asset such as Worcester’s parking garages and meters, the cash flow for which is negative without even factoring inevitably large capital outlays.
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