OSU seeks to privatize its parking

COLUMBUS (AP) — Ohio State University wants to privatize its parking facilities and invest some of sale proceeds for the school’s future.

The Columbus Dispatch reports today the university will put the proposal before its trustees next week.

Geoffrey Chatas, the university's chief financial officer, says he’s not aware of another university that has turned its parking over to private operators, though some cities have done that. He says a private company can handle parking more efficiently.

He says the university’s parking operation is estimated to be worth up to $375 million. The Dispatch reports some money from the sale would be invested before ultimately being used for scholarships, academics and research.

Some students and professors say they fear a private operator would raise parking rates.