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Wednesday, June 16, 2010

NorthJersey.com: NJ Transit takes first steps to privatize its parking spaces

NorthJersey.com: NJ Transit takes first steps to privatize its parking spaces


NJ Transit takes first steps to privatize its parking spaces
Wednesday, June 16, 2010
THE RECORD
NJ Transit took one of its first steps Wednesday toward privatizing some — or all — of its 40,000 parking spaces and raising as much as $100 million.
The Board of Directors agreed to spend $650,000 to hire a law firm to look for potential partners in managing the agency’s parking operations.
“We think this could be a win-win for not only NJ Transit and for our customers, but also for our municipalities,” said Jim Weinstein, NJ Transit’s executive director.
NJ Transit hopes to develop a plan by the fall for attracting potential investors.
“It is a complex process,” said Weinstein. “A number of places have gone through it