Value For Money Of RT Parking Project

In recent years,with the economic growth of A District of Z City in Sichuan Province,But traffic problems have become increasingly severe,especially in the central business district.Therefore,in order to improve the parking environment and alleviate the shortage of parking space in A District,it is necessary to build some parking lots to effectively solve the parking problem in A district.From the point view of public resources,the land is occupied constantly,and the urban ground space is crowded.Also,the high-rise buildings and elevated roads are constructed endlessly.Therefore,it is imperative and urgent to build RT parking projects in A District of Z City,Sichuan Province.Although some supervisory institutions have standardized the process of value for money,there are no specific rules for different industries.In this paper,the process of value for money for RT parking projects is analyzed,including qualitative and quantitative analysis.First,some literature about PPP scheme and value for money is illustrated,laying the foundation for the following analysis.Second,this paper explains that there are stable cash flows of RT Parking Projects,which cannot cover all the costs and the profits.As a result,the viability gap fund mechanism is used.For debt financing,it can be realized by issuing special bonds,and the cash flows of a series of tolls can guarantee the repayment of these special bonds.Next,according to the characteristics of RT Parking Projects,this paper proposes four additional indicators,including the size of the parking projects,the accuracy of traffic flow prediction,the growth ability of the operating income and the resettlement compensation scheme design.Through the scoring by seven experts,the final score of qualitative analysis is 82.50,greater than 60.Moreover,on the basis of the qualitative analysis,quantitative analysis is explored.Through the calculation of PSC and PPP,the results of quantitative analysis are that the value for money of RT Parking Projects is 92.49 million.Finally,this paper selects the discount rate,operation cost and tolls as the sensitive determinants for single-dimensional sensitivity analysis.Results demonstrate that discount rate is the most significant influence determinant,followed by the toll.And operation costs play the minimal role on VFM.