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Note: Indianapolis awarded Xerox subsidiary ACS a $35 million concession to operate and maintain the city's downtown parking meters.
Indianapolis awarded Xerox subsidiary ACS a $35 million concession to operate and maintain the city's downtown parking meters. The 50-year lease gives the ACS-led consortium, including Denison Global Parking and Evens Time, the right to collect and keep all revenues, including parking ticket fines, but not to set rates. Sources close to the deal said ACS financed the transaction with equity. Morgan Stanley advised the city on...