NJ Transit takes first steps to privatize its parking spaces
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
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
