Who's Involved?

Parking Modernization: Who's Who

Local Control, World-Class Operations

  • Port of Greater Cincinnati Development Authority - Lessee and owner
  • AEW - Asset manager
  • Xerox - Day-to-day operator of on-street parking
  • Denison - Day-to-day operator of off-street parking
  • Guggenheim - Underwriter & Capital Provider

Port of Greater Cincinnati Development Authority

  • Has issued over $540 million in revenue bonds
  • Owns and oversees the management of over 8,600 structural parking spaces

Role: Lessee and Owner

  • Review and approve operating and capital budget
  • Contract with asset manager; monitor operators
  • Review and sign trust disbursements
  • Maintain system transparency
  • Communicate to stakeholders

AEW Capital Management, L.P.

Global provider of real estate investment and asset management services actively managing portfolios on behalf of 320 U.S. public and private clients, including 51 public US pension plans

Role: Asset Manager

  • Develop intermediate and long-term strategic plans
  • Oversight of parking operators
  • Recommend annual operating and capital budgets
  • Develop risk management policies and procedures
  • Engage independent engineers and consultants
  • Manage long-term capital plan

Xerox

$22 billion Global company offering World Class services in parking operations, fee collection, technology innovation and customer service. Actively manages 36,000 on-street spaces. Parking market leader for over 30 years supporting 30 of the largest U.S. cities.

Role: Day-to-Day Operator of On-Street Parking

  • Operating partner for on-street system
  • Day-to-day property level responsibilities including:
    • Meter installments, removal and repair
    • Coin collection and counting
  • Violations processing/Collections
  • Implementation and operation of new technologies

Denison

Manages and operates over 60,000 parking spaces in 115 locations in 13 states and Washington, D.C., providing superior service. Maintains contracts involving a broad range of operating environments that include municipalities, events, office buildings, retail, and on?street meter enforcement.

Role: Day-to-Day Operating Off-Street Parking

  • Operating Partner off-street parking (garages and lots)
  • Facility and equipment manager

Guggenheim

Global financial services firm with more than 2,200 professionals located in more than 25 offices in ten countries. Delivers diversified financial services to a changing marketplace. The firm's investments span $170 billion of assets under management.

Role: Underwriter & Capital Provider

Parking Flow Chart