SAN FRANCISCO — Los Angeles is kicking around a plan to lease city-owned garages to a public-private partnership to raise cash that could help close a budget gap and defease outstanding bonds.

The city is soliciting for bids to set up a P3 that would lease nine parking garages and raise more than the $53 million in revenue that has already been included in the current fiscal year’s budget.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.