Harrisburg, Penn. narrows list of firms for parking garages
July 26 |
July 26 (Reuters) - The state-appointed receiver overseeing Pennsylvania's cash-poor capital city of Harrisburg selected four companies to negotiate for the purchase or lease of the city's parking garages, according to the receiver's office.
Receiver William Lynch aims to raise money as part of Harrisburg's fiscal recovery plan in order to help pay down about $320 million in debt tied to renovations of its trash incinerator.
On Wednesday, he selected Morgan Stanley, Keystone Parking Group, Harrisburg First LLC and Harrisburg Forward LLC to move to the next phase of negotiations for the sale or lease of parking garages.
In March, the city said that 12 of the companies interested in making a deal were qualified to proceed.
The recovery plan also calls for new operators for the city's wastewater system, and Lynch is in final negotiations for the sale of the incinerator with the Lancaster County Solid Waster Management Authority.
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