Eastern Michigan University is entering negotiations to take back control of its parking system. The Board of Regents on Thursday approved what might become an expensive process.
The University and LAZ Parking have been involved in a lawsuit over their contract for years, particularly regarding responsibility of the long-closed parking structure on campus.
The agreement would have EMU take back full control of operations and finances.
It could be costly. Regents approved issuing debt of up to $75 million to make it happen.
University President Dr. James Smith says there’s still a lot to be decided.
“I really don’t know where we’re going to end up. We’re dealing with our lawyers and their lawyers and trying to come to a common agreement. But I think we all agree that our current parking provider wants out, and we want to be back in.”
Smith says it will be a significant undertaking, but everyone recognizes the current system isn’t working.
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