IU may lease parking spaces in Indy, Bloomington

By: NewsCenter 16 Email
By: NewsCenter 16 Email

Indiana University is considering following Ohio State University's lead in leasing parking spaces to a private operator in exchange for a multi-million dollar payoff.

IU Chief Financial Officer Neil Theobald tells the Indianapolis Business Journal (http://www.ibj.com ) IU is about two weeks away from issuing a request for proposals for a lease that could last 30 to 50 years for parking at its Bloomington and Indianapolis campuses.

OSU students protested when their school reached a parking lease deal that generated $483 million for OSU because they'll be subject to annual rate hikes. But OSU officials defended the deal because it means they can hire faculty and expand research in a time of state budget cuts.

Theobald hopes IU can head off controversy by involving staff members, faculty and students.

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