Here’s an interesting quote from the NYCDOT website
The Division of Franchises, Concessions and Consents grants permission to applicants to occupy or use space on, over or under the City streets and sidewalks, charging fees for these uses.
A franchise is a contract between a company and the City. The company provides a public service. Examples are certain private bus routes and conduits for gas and electric utilities.
Franchises generally require legislative authority and are granted for a limited term of years following a public bidding process.
Concessions may be granted to do business on City property. Examples include food courts on public plazas. Concessions are granted for a fixed number of years following a public bidding process.
Revocable Consents may be granted to permit the use of public space for private purposes. Examples include accessibility ramps adjacent to private property, as well as steam pipes and telecommunication conduits underground. Revocable consents are granted for a limited number of years after a formal review process.
Note that certain private bus routes provide a public service.