In this article from McKinsey Insights are some good ideas that might be adaptable for use in the Parkway providing more funding and services, for instance developing a food truck station close to picnic tables where food trucks can provide snacks to Parkway users.
Selling public assets can be an effective way to improve fiscal health but can also be unpopular, slow, and risky. It is also just one of many available options. From real estate and roads to state-owned agencies and monopolies, there are multiple approaches to create new sources of general revenue that governments can use to improve finances or invest in new infrastructure and other key priorities.
As financial deficits remain high in much of the developed world and spending needs continue to rise, full asset sales will be an important option for meeting these needs. In the United Kingdom, for example, the government has announced a £20 billion (US $33 billion) target for asset sales.1
The Australian government announced plans to raise up to AU $130 billion (US $120 billion) from asset sales.2
And there is substantial scope for such sales: eurozone governments hold €4 trillion of fixed assets, and the US government owns an estimated 45,000 underused or underutilized buildings.3
But privatizations are only one way to raise funds from government-owned assets. Our work with infrastructure and other assets of regional and national governments suggests there is a substantial ability to monetize value short of an actual sale—in one case, 60 percent of asset value was realized through sales, and 40 percent, totaling multiple billions of dollars, was better realized through other means, such as making operational improvements and restructuring the financial model. Often, these types of changes can be easy, quick, and ultimately have the potential to create substantial value for the public.