Four firms now in running for Harrisburg parking garages
Harrisburg receiver William Lynch has narrowed his list to four firms to negotiate with over the lease and possible sale of the city's parking garages — one piece of the city's court-approved recovery plan.
“There are all types of approaches and some look at hybrids of both,” said Cory Angell, a Lynch spokesman.
The four parties are Harrisburg First LLC, Harrisburg Forward LLC, Keystone Parking Group and Morgan Stanley, according to the receiver’s office.
The list of qualified firms had been nine in April after an original list of 12 in March.
Last month, Lynch announced he was engaging in exclusive negotiations with the Lancaster County Solid Waste Management Authority regarding the sale of the city’s troubled incinerator, which accounted for more than $326 million of debt as of January.
Meanwhile, interest continues to accrue on the debt.
“The increase is not material given the magnitude of the debt; however, it is an increasing number and not static,” Angell said last month. “Ultimately, there will be various adjustments made with the likely forgiveness of certain interest and possibly principle as part of an overall resolution.”
Bringing in an outside party to manage water and wastewater assets also is part of the recovery plan. That list was at four firms in April.