CHICAGO — Indianapolis, which has privatized its water, sewer and parking systems, is now eying a public-private partnership for the city's parks.
The city's parks department, IndyParks, released a request for proposals looking for private companies interested in taking over some or all of its parks, as well as upgrading existing facilities. Proposals are due Jan. 31, and a review panel will consider the requests, according to local reports.
The city will favor proposals that have a "revenue-sharing component" with little or no risk to the city, local reports said.
The park system has just under $46 million of needed improvements with a $3.4 million capital budget, according to the Indianapolis Star.
The district also has a $51 million "wish list" for new facilities and upgrades.
Private companies already run the city's golf courses and a few other recreational facilities.
The city in 2010 privatized its water and sewer systems in a $1.9 billion sale of its to a private nonprofit utility, which marked the largest privatization of such assets to date. The city also entered into a 50-year lease of its parking meters in exchange for cash and a piece of the annual parking revenue.
