Big Ten rival Ohio State University might be cashing a $375 million check right away if it decides to outsource the rights to its campus parking spaces sometime this academic year.
That’s the amount the university would earn if they go ahead with previous plans to privatize university parking operations.
The school currently is accepting bids from companies to operate the spots after its trustees passed the measure in September.
Under the plan, the private company potentially could double the university’s parking rates during the first 10 years of the contract, and then hike up the rate 4 percent per year after that.
The increases could end up costing as much as $720 per permit.
At MSU, the issue remains a hot-button topic.
Although the university has about one-third of the spaces Ohio State does — about 24,500 versus about 36,000 — students still have expressed dismay over a campus crowded with automobiles.
And under a draft of the 2011 Campus Master Plan, more than 1,000 parking spots near Shaw Lane, Erickson Hall and the International Center have been earmarked for potential changes.
Although the plan only explores options for relocation or expansion, one component of the plan would relocate those spots to a yet-to-be constructed multi-level parking garage at the northwest corner of Red Cedar Road and Shaw Lane, campus master planner Steve Troost said.