Press Detail

New parking meter deal could save city $1B

Posted on May 06, 2013

ABC 7

Mayor Rahm Emanuel announced proposed changes to Chicago’s parking meter lease agreement April 29, including a reduced compensation rate paid to the company for meters not in use during construction or street fairs. The Civic Federation said the changes represent better management of a bad deal for the City and its taxpayers. The new agreement is expected to significantly reduce the City’s liabilities throughout the duration of the 75-year lease that was signed in 2009.