Live Online Webcast: $35.00 for IPMI Members, $85.00 for Non-Members
Description: In the next decade, a growing number of state and local governments, colleges and universities, airports, transit systems, and water and sewer authorities are likely to explore asset monetization. State and local governments own infrastructure properties of significant value and, despite a 10-year economic expansion, some remain fiscally pressured and unable to properly maintain their properties. The scale of today’s infrastructure decay, the declining fiscal health of the U.S. public sector, and a growing appetite from large institutional investors (private sector) for infrastructure properties make asset sales or leases more likely than in the past.
Parking assets (garages, decks, on-street operations) are often eyed by political administrations as a possible cash cow for their pet projects. Now, we see these assets used to fund much-needed infrastructure and technology upgrades.
In this webinar, we will highlight the pros and cons of:
- Buy outright; part of a system.
- Sell or lease the entire system.
Mark Vergenes is the president of MIRUS Consultants.
Having entered the parking industry in late 1999, Mark has built a clientele that consists of real estate development firms, individuals, and cities. His practice focuses on consulting with those who need an experienced advisor for their project(s).
Tim Horstmann is a public finance and tax attorney at McNees Wallace & Nurick in Harrisburg, PA. Tim advises governmental entities on the structuring of taxable and tax-exempt revenue bond and general obligation bond financings for a variety of capital projects, including parking facilities, schools, and higher education institutions and water, sewer and stormwater infrastructure. He also represents clients in the monetization of publicly-owned assets through various arrangements such as sales, leases, sale/leasebacks, and lease/leasebacks.