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City of New York Parking System Private Management Agreement
Responses due on Tuesday, July 31, 2012 by 3:00 pm New York City time
Issued June 11, 2012
The City of New York (the “City” or “New York”), through its Department of Transportation (“DOT”), is seeking Statements of Qualification (“SOQ”) from companies (“Respondents” and each, a “Respondent”) in order to establish a Pre-Qualified List (“PQL”) of Respondents who may be selected to compete for a potential Private Management Agreement (“PMA”) with respect to the City’s parking system, the largest municipal parking system in the U.S., which consists of approximately 89,500 spaces throughout the five boroughs (the “Parking System”). The City’s Parking System consists of: (i) approximately 80,800 on-street spaces, which includes 54,000 on-street spaces paid for via 8,500 Muni-Meters and 27,000 single-space meters (the “On-Street System”); and (ii) 8,700 off-street spaces, which includes 9 garages with 3,700 stalls and 4,900 surface lot stalls in 33 parking fields (the “Off-Street System”). As the On-Street System represents over 90% of the total spaces in the City’s Parking System, it is the primary focus of this Request for Qualifications (“RFQ”). However, the City will also welcome detailed feedback on Off-Street System alternatives if Respondents identify opportunities for enhanced performance. DOT’s intent in developing a PQL is to establish a list of competent and experienced firms for a potential PMA procurement, consistent with the overall policies, goals and requirements of the City. DOT will select only highly qualified Respondents with substantial expertise and experience operating complex, large-scale parking systems. In exploring a PMA for the Parking System via this RFQ, the City has two primary objectives: 1. To build a comprehensive understanding of the private sector’s capabilities and experience in managing large, complex parking operations. In particular, the City seeks detail with respect to parking systems that achieve operational and financial performance at levels higher than the City’s Parking System; and 2. To bring the private sector’s expertise in operations and innovation into assessing opportunities for a potential PMA for the City. Overall, the City wishes to evaluate detailed opportunities to improve service to the public and revenue to the City through a PMA whereby a private entity would operate and maintain the City’s Parking System (the “Private Manager”). Any such arrangement would maintain the City’s control over meter rates, installation and removal of meters, operating hours of metered spaces, enforcement and adjudications. Further discussion of the potential PMA structure is provided on the following page.
GENERAL POLICY CONSIDERATIONS
Importantly, this PMA process forms part of a broader City initiative to: Seek private-sector guidance on innovative ways to enhance the efficiency and quality of services the City provides to its residents and business customers; Develop new sources of revenue and/or relief for the City from future operating and capital obligations; Prioritize long-term value creation over short-term gains; and Incorporate existing work forces and/or increase their productivity.
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OVERVIEW (CONT.) POTENTIAL PMA STRUCTURE
In connection with the establishment of a PQL, the City is exploring incentive-based PMA structures which may include a Private Manager to: Assume day-to-day management and operation of the Parking System and its core functions, including collections and meter maintenance; Guarantee Parking System operational and financial results at a level higher than the level that the City anticipates being able to achieve on its own. (Note: Such “guarantee” to be backed by significant performance security, including cash collateral or one or more letters of credit); Earn incentive compensation based on guaranteed levels of operational and financial performance; and Fund certain negotiated Parking System capital expenditures such as all costs associated with equipment, infrastructure and software needed to implement new technologies and innovations. Overall, any PMA will establish the framework and terms and conditions of a strategic relationship between the City and Private Manager pursuant to which the Private Manager would manage Parking System operations and, to a broad extent, introduce opportunities for innovation and improved customer service for City residents and the travelling public.
FOCUS ON INNOVATION
The City is particularly focused on exploring private-market ideas that would implement industry best practices and extend the City’s record of innovation in this area. A responsive SOQ will, among other things, demonstrate detailed technical and financial qualifications and provide detailed descriptions of the historical performance of parking projects undertaken by the Respondent, specific measures implemented and corresponding results achieved. Importantly, exploring such ideas and qualifications is conceptually consistent with DOT’s Strategic Plan, which incorporates: (i) innovative parking management programs; (ii) supportive technologies to make it easier for motorists to find a parking space; and, (iii) introduction of a wider set of payment options. Combined with other curb-management practices, innovative parking management can improve motorist convenience, help reduce double-parking and blockage of bus stops and hydrants, reduce vehicle miles spent searching for an available space, and increase compliance with curbside regulations.
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OVERVIEW (CONT.) REQUEST FOR QUALIFICATIONS
This RFQ allows Respondents to describe their experience managing sizeable parking systems and how specifically they would apply such expertise to New York City. Sections II and III of this RFQ provide an introductory description of the Parking System, including opportunity highlights. Section IV discusses the City’s expectations with respect to business-plan submittals. Section V summarizes the required respondent qualifications and evaluation criteria. Section VI lists the RFQ submission requirements. For the purposes of this RFQ, the following definitions will apply: “Respondent” means an individual, a company, or a consortium of individuals and/or companies formed to undertake the transaction. “Team Member” means a member of a Respondent. Those interested in responding to this RFQ shall do so no later than Tuesday, July 31, 2012 at 3:00 pm New York City time. Responses received after this time will not be considered. The communications protocol for the RFQ process is described in Section VI. There will be no restriction as to the number of Respondents.
The City shall review the SOQs submitted by each Respondent. SOQs submitted will be reviewed by a team comprised of individuals from DOT, Office of Management and Budget and the Economic Development Corporation. The receipt of SOQs, preliminary business plans or other documents at any stage of this RFQ process will in no way obligate the City to enter into any contract of any kind with any party. Respondents that are deemed to be qualified shall be notified in writing of being accepted onto the PQL. Respondents which do not meet the criteria shall be given written notice of denial of pre-qualification status. Respondents that are denied pre-qualification status shall not be invited to participate in the subsequent procurement, if any. To assist the City with this process, the City has hired an independent financial advisory firm, Greenhill & Co., LLC (the “Financial Advisor”), and a law firm, Freshfields Bruckhaus Deringer LLP (the “Legal Advisor”) (collectively, the “Advisors”). A decision whether to proceed with a subsequent procurement will be made by the City in consultation with its Advisors. Likewise, if a decision is made to engage a Private Manager for the Parking System, selection of such Private Manager will be made by the DOT in consultation with its Advisors.
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PARKING SYSTEM DESCRIPTION SUMMARY
The City of New York, first settled in 1624, is the largest city in the U.S. by population, with over 8.2 million residents and nearly 18.9 million people residing in the greater metropolitan area. New York consists of five boroughs – The Bronx, Brooklyn, Manhattan, Queens and Staten Island. With land area of just 305 square miles, New York is the most densely populated major city in the U.S. A center of global commerce, finance, media, art, fashion, education and entertainment, New York welcomes over 50 million visitors annually to its diverse neighborhoods, restaurants, hotels, shops and historic sites. DOT operates the largest metered parking system in the U.S., with approximately 80,800 on-street spaces throughout the five boroughs. As demonstrated in Figure 1, the City’s On-Street System is over two times larger than the next largest U.S. municipal on-street metered parking system, Los Angeles. Figure 1:
On-Street Metered Spaces by City
(Spaces in thousands)
100 80.8 80 60 40 20 0 New York City Los Angeles Chicago San Francisco 37.7 35.6 24.0
Source: DOT, City/Parking Authority public disclosures
On-Street Spaces by Borough
Bronx 9,300 Staten Island 1,900
The City’s on-street and off-street parking spaces are vital to the health of neighborhood retail and commercial activity, by providing parking for typically up to one or two hours for people shopping, going out to eat, visiting doctors and hospitals, running personal errands and other neighborhood-based activities. Spaces with longer time limits provide parking for people working in the area and for park-and-ride commuters, thus supporting the transit system. Availability of parking spaces for these purposes is highly valued by residents, visitors and businesses. At the same time, curbside space is also used for a variety of other purposes, depending on location and time of day. These purposes include bus stops, bus lanes, bike lanes, curb cuts, commercial loading and unloading and fire hydrants. DOT carefully balances these various uses and makes changes to the use of curbside space based on project and community needs.
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PARKING SYSTEM DESCRIPTION (CONT.) MUNI-METER MODERNIZATION
DOT currently operates 27,000 single-space meters and 8,500 Muni-Meters throughout the five boroughs. As conveyed by Figure 3, DOT intends to replace all remaining single-space meters throughout the City with Muni-Meters by the end of 2012. Muni-Meters have several advantages over single-space parking meters, including the convenience of a pay-and-display system, payment by credit, debit and City-issued pre-paid parking card (the “NYC Parking Card”), providing customers with a receipt, higher operability rates, communications with a central computer for monitoring and data transfer, and reduction of sidewalk encumbrances.
% of Muni-Meters Installed (1)
100.0% 100.0% 80.0%
40.0% 36.6% 20.0% 25.5% 29.9%
0.0% FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013P
Source: DOT, Mayor’s Management Reports Note: (1) FY12 Muni-Meter installations through April 2012
As demonstrated in Figure 4, DOT has achieved high levels of Muni-Meter operability since installing this improved technology throughout the City. Specifically, Muni-Meter operability equaled 98.6% and 99.4% in FY10 and FY11, respectively. In FY12, Muni-Meter operability has equaled 99.2% on a year-to-date basis.
100.0% 98.6% 99.4% 99.2%
0.0% FY2010 FY2011 FY2012
Source: DOT Note: (1) FY12 Muni-Meter Operability through April 2012
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PARKING SYSTEM DESCRIPTION (CONT.) ON-STREET REVENUE COLLECTION METHODOLOGY
Given the Muni-Meter modernization, DOT is collecting more revenue electronically via credit-card payments as opposed to traditional cash collection. To demonstrate the gradual change in the collection mix, Figure 5 compares the percentage of revenue collected in the form of cash, credit-card payments and NYC Parking Cards for FY11 and May 2012 (the most recent available data). At the close of FY11, 62% of total revenue came in the form of cash, 22% by credit card payment and 16% through NYC Parking Cards. As of May 2012, only 54% of total revenue came in the form of cash, while 29% and 17% of total revenue came in the form of credit-card payments and NYC Parking Cards, respectively. DOT anticipates the percentage of total revenue collected via credit-card payments to continue to increase as the Citywide Muni-Meter installations are completed throughout 2012. Figure 5:
NYC Parking Card 16% NYC Parking Card 17%
Cash 54% Cash 62% Credit 29%
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PARKING SYSTEM DESCRIPTION (CONT.) PARKING RATES
Parking rates vary across the five boroughs. Legal parking durations vary from 1 hour to 12 hours and are free on Sunday. All meters accept coin payment, while Muni-Meters also accept payment by credit and debit card and NYC Parking Cards. The NYC Parking Card is available for purchase online. Beginning in 2008, the DOT began a pilot program called PARK Smart in several neighborhoods across the City. PARK Smart pilots are developed in close consultation with key community stakeholders with the aim of increasing the number of available metered parking spaces by encouraging motorists to park no longer than necessary. Under the program, meter rates are higher when demand for parking is greatest and decrease when demand is lower. Figure 6:
Current New York City Parking Rates
Type of On-Street Space Single-Space Meters Some Manhattan Meters above 60th Street Muni-Meters Some Manhattan Meters below 96th Street Commercial Vehicle Spaces PARK Smart Greenwich Village 6:00 to 10:00 p.m. All Other Times Park Slope Noon to 7:00 p.m. All Other Times $2.00 $1.00 $5.00 $3.00 Hourly Rate $1.00 $1.50 $1.00 $3.00 $3.00 Minimum Payment $0.25 (15 min.) $0.25 (10 min.) $0.25 (15 min.) $0.50 (10 min.) $3.00 (1 hour)
The DOT also issues parking permits for certain government agency drivers and fleet managers as well as not-for-profit organizations and persons with disabilities.
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PARKING SYSTEM DESCRIPTION (CONT.) FINANCIAL PERFORMANCE
The Parking System’s historical financial performance for FY10 and FY11 is profiled in Figure 7 below. Additionally, FY12 projected and FY13 budgeted financials are displayed to provide potential Respondents with DOT’s baseline expectations for the current and coming fiscal years. Figure 7:
Parking System Financial Summary(1)
($ in millions)
Fiscal Year Ending June 30, 2010A 2011A $131 9 7 $147 $64 $83 56.4% $85 64.8% $3 $80 54.4% $139 10 7 $156 6.3% $63 $93 59.8% 12.8% $94 67.4% 10.3% $1 $93 59.3% 2012P $171 12 8 $192 22.8% $67 $125 65.2% 34.0% $123 72.0% 31.8% $26 $99 51.8% 2013B $182 13 8 $204 6.3% $63 $141 69.0% 12.5% $136 74.5% 10.0% $17 $124 60.7%
CAGR '10-'13B 11.6% 13.3% 8.3% 11.6%
Operating Revenues On-Street Meters Off-Street Meters Garages % Growth Operating Expenses Total Net Revenue (EBITDA) % Margin % Growth On-Street Net Revenue (EBITDA) % Margin % Growth Capital Expenditures Net Revenue (EBITDA) - Capital Expenditures % Margin
Total Operating Revenues
Notes: (1) Excludes enforcement revenue; figures may reflect rounding (2) Includes revenue from permits Source: DOT
Historical Performance: From FY10 to FY11, total revenue grew from $147 million to $156 million, a 6.3% increase. With respect to operating costs, total expenses decreased from $64 million in FY10 to $63 million in FY11, reflecting improved DOT efficiencies. Overall, Parking System Net Revenue (EBITDA) increased by 12.8% (from $83 million to $93 million) from FY10 to FY11. Projected Performance: In FY12, total Parking System revenue is expected to total $192 million, a 22.8% increase from FY11. This increase reflects continued installation of Muni-Meters across the City as well as various rate adjustments. For FY13, DOT projects that total revenue will reach $204 million, a 6.3% increase versus projected FY12 levels. With respect to Operating Expenses, total Parking System expenses are expected to be $67 million in FY12, a $4 million increase versus FY11. In FY13, however, budgeted expenses are reduced to $63 million, primarily due to a decrease in Personnel Services costs. Overall, Parking System Net Revenue (EBITDA) is projected to be $125 million in FY12 and is budgeted to reach $141 million in FY13.
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PARKING SYSTEM DESCRIPTION (CONT.) EMPLOYEES
The City currently has an authorized headcount of 466 employees in FY13 to operate, maintain and provide other key functions to support the operations of the Parking System. Employees are represented by various unions and are covered by collective bargaining agreements. Respondents will be asked to provide with their response an explanation of plans concerning the utilization of these City employees.
Parking enforcement is the responsibility of the New York City Police Department (the “Police Department”). Summonses, which are primarily issued by Traffic Enforcement Agents, are adjudicated and collected by the Parking Violation Operations (“PVO”) of the City’s Department of Finance. For FYE June 30, 2011, the City issued 8.96 million parking summonses (including violations for alternate side parking and no-standing infractions). This number, as reported by the Department of Finance, includes 2.54 million meter-related parking violations.
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Given its scale and importance to the City, the City is investigating opportunities to improve service to the public and Parking System performance. The current Parking System performs at a very high level of operability, reliability and profitability compared with its peers. However, the City is interested in exploring options that may improve service to the public and future financial returns. Key highlights of a Parking PMA with the City would include:
Largest On-Street Metered Parking System in the U.S.
With approximately 80,800 total spaces, New York City’s On-Street System is over two times larger than the next largest municipal system in the U.S. and serves a metropolitan area with more than 18 million residents.
PMA Structure Maximizes Long-Term Value Creation versus Short-Term Gains
In contrast to certain precedent U.S. parking transactions, the City’s objective is not to structure an upfront payment. Rather, the City views the possible PMA as an asset management partnership through which a Private Manager would earn compensation for driving long-term value and service to the public and creating Parking System upside for the City.
Minimal Cyclicality and Sustained Revenue Growth
From FY10 to FY13B, total Parking System revenue is expected to grow by approximately $48 million (from $156 million to $204 million). This FY10-FY13B CAGR of 11.6% demonstrates the attractive underlying fundamentals of the Parking System.
Committed to Innovation and Best Practices
As evidenced by Muni-Meter installations Citywide and pilot programs for technology and parking pricing, DOT is highly committed to implementing Parking System innovations that benefit the public. The purpose of this RFQ is to identify further opportunities for innovation that would serve the City’s parking-policy objectives and how best a PMA may be able to improve service to the public and optimize Parking System efficiency, where appropriate.
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Each Respondent must submit a detailed business plan in order to be considered for pre-qualification. The business plans should be based on the Respondent’s initial assessment of the Parking System, based on available data and subject to future due diligence. The preliminary business plans will not be evaluated in comparison to those of other Respondents in the context of this RFQ, but rather assessed on whether they meet the City’s objectives as described in this RFQ. All business plan submissions will be subject to on-site audit by the DOT team. Specifically, business plans should include detailed perspectives on matters relating to: Operational experience and capability of the Respondent; Staffing and organizational ability to undertake the type and complexity of contractual relationship contemplated; Strategy to maximize customer service and satisfaction; and Comprehensive safety and security programs.
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RESPONDENT QUALIFICATION REQUIREMENTS; EVALUATION CRITERIA
This RFQ is open to prospective Respondents capable of meeting the requirements highlighted in this section and detailed further in Section VI. The City may allow changes in the composition of a Respondent if the Respondent is comprised of more than one entity (e.g., joint venture, partnership, etc.); however, any such changes must obtain prior approval by the City. Failure to obtain such approval may result in disqualification from the RFQ process and the PQL. Upon receipt, all SOQ submissions will be reviewed for completeness in accordance with the submission requirements highlighted in Section VI of this RFQ. At the end of the submission completeness review, the City will assess each Respondent’s qualifications for inclusion on the PQL based on the criteria set forth below.
The evaluation of technical capabilities will address whether a Respondent has the operational and technical capacity to maintain the System at a higher standard than is currently achieved by DOT. Importantly, a Respondent must have at least 100,000 parking spaces under management (on-street, off-street or combined) of which at least 20,000 are on-street spaces.
The evaluation of financial capabilities will address whether the SOQ submission adequately responds to the financial capability requirements of the PMA with respect to the following areas: Financial capability and ability to furnish financial instruments, such as irrevocable letters of credit, which will guarantee to the City a minimum of $100 million to secure annual parking revenue; and General credit quality of the proposed counterparty.
The evaluation of Respondent Business Plans will address whether a Respondent has submitted a satisfactory Business Plan that merits inclusion in the PQL. Respondents must present a satisfactory business plan, in accordance with the requirements of Section IV, to be included in the PQL.
Compliance with all federal, state, and local laws, rules, licensing requirements and executive orders – Respondents must disclose all negative information concerning such compliance from the past 10 years as it relates to their past parking operations, financial capability or business integrity; Ability to maintain harmonious labor relations – Respondents must describe past positive and negative information concerning their ability to maintain harmonious labor relations; Compliance with equal employment opportunity requirements and antidiscrimination laws – Respondents must disclose all EEO complaints from the past 10 years; and Demonstrated commitment to working with minority and women-owned businesses.
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RESPONDENT QUALIFICATION REQUIREMENTS; EVALUATION CRITERIA (CONT.) RECORD OF BUSINESS INTEGRITY
Prior to inclusion on the PQL, the Private Manager and all of its principals and affiliates, as applicable, will have to complete and submit to the City VENDEX background questionnaires and shall be subject to investigation by the City’s Department of Investigation, all for the purpose of determining the Respondent’s record of business integrity. Questionnaires and instructions on submission requirements can be found at: http://www.nyc.gov/html/mocs/html/research/vendex.shtml.
The City has established standard terms and conditions that are required to be included in all contracts along with bidder/contractor representations and certifications. The City hereby puts the Respondents on notice that, should the City proceed with a subsequent procurement, a successful award at the end of the procurement process will be contingent upon the Respondent’s agreement to comply with these standard contractual provisions, representations and certifications in substantially the form presented in a subsequent procurement.
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RFQ PROCEDURES AND SUBMISSION REQUIREMENTS COMMUNICATIONS PROTOCOL
The City and DOT are committed to a fair and open process for interested parties to receive information about the RFQ and procurement process. Prospective Respondents that anticipate submitting an SOQ shall indicate so as soon as possible by providing contact information via e-mail to: ParkingRFQ@dot.nyc.gov Additionally, potential Respondents may submit questions via e-mail to the above addresses. Each potential Respondent’s inquiry must identify the sender’s name, address, e-mail, telephone number and company affiliation in the correspondence. DOT will provide a written response to questions and distribute said responses to a single representative of firms that have provided contact information. The deadline for submitting questions shall be: Friday, June 29, 2012 at 3:00 pm New York City time.
NO LIABILITY FOR COSTS
The City and its Advisors are not responsible for costs or damages incurred by Respondents, or other interested parties in connection with the PQL process, including but not limited to costs associated with preparing responses and of exploring the Parking System or participating in any conferences, or oral presentations.
DOT is subject to the New York State Freedom of Information Law (FOIL), which governs the process for the public disclosure of certain records maintained by DOT (See Public Officers Law, Sections 87 and 89). Respondents may request that DOT except all or part of information submitted, including the business plan, from public disclosure, on the grounds that the information contains trade secrets, proprietary information, or that the information, if disclosed, would cause substantial injury to the competitive position of the individual or firm submitting the information. Such exception may extend to information contained in the request itself, if public disclosure would defeat the purpose for which the exception is sought. The request for such an exception must be in writing and state, in detail, the specific reasons for the requested exception. It must also specify the information, business plan, or portions thereof for which the exception is requested. In addition, information disclosed which would lead to the impairment of present or imminent contract awards is also exempt and this exemption may also be available with regard to all or part of the business plan or other information submitted. Notwithstanding any request made pursuant to this paragraph, DOT may determine, upon receipt of a FOIL request, that no applicable exception under FOIL exists to prevent disclosure.
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RFQ PROCEDURES AND SUBMISSION REQUIREMENTS (CONT.) FORMAT AND REQUIRED INFORMATION FOR RFQ SUBMISSION
All RFQ submissions should meet the criteria set forth in Section V and follow the format outlined below: 1. 2. 3. 4. Cover Page (Identify all Team Members) Cover Letter (2 pages Maximum) Table of Contents Executive Summary a) Summarize the top 10 areas in which the Respondent believes it can demonstrate management performance and technological innovation that are relevant to creating value for the City in the context of an incentive-based PMA. For example, such a discussion might include views on implementing customer-focused technologies, optimizing collection routes, coordinated enforcement, preventative-maintenance strategies, reducing equipment repair times, and other potential alternatives to introduce innovation into the Parking System. Be sure to highlight the lessons learned from prior experience with public systems. 5. Respondent Information a) Description of Respondent: Provide a description of the Respondent, including a description of all Team Members, if applicable, including the identity of the current Key Person(s) of each Team Member, and the anticipated legal relationship among the Team Members (e.g., partners, shareholders, client-consultants, etc.), as appropriate. (Note: To the extent the Respondent consists of Team Members, please indicate whether such Team Members are exclusively committed to the Respondent.) For purposes of this RFQ, "Key Person" means an individual who it is anticipated will have direct operational control over the entity that will be responsible for fulfilling the obligations under a PMA. b) Contact Person: Provide a single contact person for all future communication between the Respondent and the Financial Advisor. Please identify the contact person’s name, title, organization, address, phone numbers (office and cell), and email address. c) Controlling Interest: Identify the individuals or entities who hold an ownership interest (direct or indirect) of more than five percent (5%) in the Respondent or each Team Member, as the case may be. 6. Technical Capability Respondents should comment on the following elements of their relevant industry expertise: a) Operational Experience and Capability: Describe how Respondent or Team Members have operated large parking systems at a higher standard than is currently being achieved by DOT, based on meter operability, Net Revenue (EBITDA), customer satisfaction, credit card utilization and other relevant metrics. The City requests that each Respondent describe its experience in managing formerly public parking systems, including the results achieved in terms of improving service to the public, revenue results, cash flow and implementing innovative technologies. For each parking system, specify the dates of management, whether management pertained to all or part of a parking system (and, if the latter, which parts), number of on-street spaces, number of off-street spaces, FTE equivalent used for meter collections, annual mileage for meter collections, the annual total revenue, annual
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RFQ PROCEDURES AND SUBMISSION REQUIREMENTS (CONT.)
cash collected, expenses and cash flow of each parking system during the applicable management period and the prior two years. Respondents should also provide client contact information for every formerly-public parking system that they manage or have managed. Each Respondent should describe in detail the nature of the transition process from public to private management, any policy, community or technical obstacles encountered, and how those obstacles were overcome. Respondents should also describe the number and type of public employees affected by the transition and how they were handled under the private system. To the extent that new technology was a substantial component of the private system, Respondent should describe the prior technology that was replaced/enhanced, the nature of the new technology and its cost (including any unexpected transition issues), and the estimated contribution of the new technology to both revenues and expenses. b) Customer Service and Satisfaction: Respondents should describe its experience in achieving the highest standards of customer service and satisfaction. Specifically, the Respondent must highlight its experience and qualifications providing excellent customer service to the public. Respondents may, at their option, include additional information concerning their experience in maintaining productive ongoing relationships with government entities, similar to the relationship that the Private Manager would have with the City. c) Safety and Security: Respondents should communicate their ability to address and resolve public safety and security issues relating to the operating of the Parking System. d) Other Capabilities: If the Respondent possesses other qualifications or capabilities, please describe such qualifications or capabilities. 7. Financial Capability Respondents should demonstrate their depth of resources and financial capability to operate the Parking System. Financial qualifications shall be provided as Appendix A to a RFQ submission and shall include the following information in table format: Income Statement and Balance Sheet Summary
Fiscal Year End [Date] A Revenue B C D E F G H I J K L Operating Expenses (excluding D&A) Depreciation & Amortization Operating Income (A-B-C) Net Income Total Assets Current Assets Total Liabilities Current Liabilities Net Worth (Equity) (F-H) Share Price (12/31) Shares Outstanding (12/31) 2009 2010 2011
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RFQ PROCEDURES AND SUBMISSION REQUIREMENTS (CONT.)
Rating Company Moody’s S&P Fitch Other Rating Date Long-Term Short Term
RFQ SUBMISSION INSTRUCTIONS
Twelve (12) hard copies of the RFQ Submission should be delivered to the address shown below no later than Tuesday, July 31, 2012 at 3:00 pm New York City time. RFQ Submissions may not be submitted via facsimile. Deliver RFQ submissions to: New York City Department of Transportation Office of the Chief Contracting Officer 55 Water Street, 8th Floor New York, New York 10041 ATTN: Junaid Syed, P.E. One electronic copy of the complete RFQ submission should be sent to: ParkingRFQ@dot.nyc.gov
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