Business

Bloomberg Open To Privatizing Parking Meters

Parking meters are seen on the Upper West Side - New York, NY - Jun 20, 2008 - Photo: Paul Murnane / WCBS 880

Parking meters (credit: Paul Murnane / WCBS 880)

lamb_feature Rich Lamb
Rich Lamb is an award-winning reporter, who has been on the air at...
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NEW YORK (WCBS 880) - Mayor Michael Bloomberg is open to the idea of privatizing New York City’s parking meters.

LISTEN: WCBS 880’s Rich Lamb reports

“If the private sector can do something better than the public sector, then we certainly will talk to them,” Bloomberg said.

But the mayor makes it clear he’s not going to give away decades of revenues for a one-shot, quick buck to the bottom line.

Bloomberg said, “What’s generally done with these privatization things is to take all the money upfront for budget balancing, leaving those cities or states without assets and with an obligation going forward.”

The mayor called it terrible fiscal planning and vowed not to do that.