Leasing of assets could bring quick cash to city

Long-term leases, called concessions, are less problematic, though they are still constrained by the city's anti-privatization ordinance, which restricts outsourcing work that could be done in-house, barring extensive documentation as to cost savings. Valuable infrastructure Wastewater treatmen...

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Bibliographic Details
Published inCrain's Detroit Business Vol. 28; no. 12; p. 1
Main Author Kaffer, Nancy
Format Journal Article Trade Publication Article
LanguageEnglish
Published Detroit Crain Communications, Inc 19.03.2012
Crain Communications, Incorporated
Subjects
Automobile parking
Corporate profits
Cost control
Infrastructure
Leasing
Operating costs
Privatization
Public private partnerships
Securities industry
Tunnels
United States
Illinois
Michigan
United States > US
Chicago Illinois
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Summary:Long-term leases, called concessions, are less problematic, though they are still constrained by the city's anti-privatization ordinance, which restricts outsourcing work that could be done in-house, barring extensive documentation as to cost savings. Valuable infrastructure Wastewater treatment, parking systems, roads, street lighting - all are targets for private investment, said Leonard Gilroy, director of government reform at the libertarian think-tank the Reason Foundation. While the city retains ownership of the convention center, a private management company is responsible for day-to-day operations.
ISSN:0882-1992