New York City considers privatizing 80,800 parking meters

New York City is considering privatizing its parking meters.

The Department of Transportation on Monday formally requested Statements of Qualification from companies interested in operating the city's parking meters. Statements are due July 31.

Julie Wood, a spokeswoman for the mayor's office, says that under any agreement the city would keep control of meter rates and enforcement of violations. She says the city is being careful to avoid mistakes others have made.

To be considered, companies will have to have experience running at least 100,000 parking spaces and be able to put up $100 million in collateral.

Based on the responses, the city will decide whether to move forward with the project, which would cover the city's 80,800 on-street parking spaces.