IU hires Goldman Sachs to advise on parking leases

Indiana University has hired investment banker Goldman Sachs to advise it on whether to seek a multimillion-dollar payout by turning over parking facailities on the Bloomington and Indianapolis campuses to a private operator.

The university made the move this week after its Board of Trustees agreed last month to study the possibility of a 30- or 50-year lease. Some trustees and faculty representatives have questioned whether it would be a good move.

The university says that if it decided to solicit bids, Goldman Sachs will help evaluate them. It says the firm's role is expected to last six to nine months.

IU says Goldman Sachs was involved in the decision by Gov. Mitch Daniels to lease the Indiana Toll Road to a foreign consortium for 75 years.
 

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our updated comment policy that will govern how comments are moderated.

{{ articles_remaining }}
Free {{ article_text }} Remaining
{{ articles_remaining }}
Free {{ article_text }} Remaining Article limit resets on
{{ count_down }}