The Wall Street Journal reports that:
“Cities and states across the nation are selling and leasing everything from airports to zoos—a fire sale that could help plug budget holes now but worsen their financial woes over the long run.
California is looking to shed state office buildings. Milwaukee has proposed selling its water supply; in Chicago and New Haven, Conn., it’s parking meters. In Louisiana and Georgia, airports are up for grabs.”
You can read the full article by clicking here .
It’s an interesting article. I would be reluctant to put city assets up for sale for the reasons stated in the article. My experience is that most times we have privatized a city function, such as turning over the management of the downtown parking garage to Diamond Parking, we have drawn some complaints from citizens. I can’t imagine negotiating a long-term lease with a private company which lets them make profits from street parking.
What do you think? Are there any city assets you readers suggest we sell?
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