Widgetized Section

Go to Admin » Appearance » Widgets » and move Gabfire Widget: Social into that MastheadOverlay zone

Chicago Parking Meters to Become Most Expensive in U.S. at $6.50 an Hour

Chicago now has the dubious title of having the nation’s most expensive meters. On New Years Day, the meters will begin charging a Parking Meter Payboxwhopping $6.50 an hour, which is up from $5.00.

This makes Chicago’s meters more expensive than every other city, including New York.

How’d this happen, you ask? Chicago city officials allowed their parking meters to be privatized, and since businesses are around to make money, the owners of the parking meters are bilking drivers for every cent they can get.

The Chicago Sun Times recently reported on how, even though the parking companies are doing better than expected, they’re demanding more money:

The private investors who run Chicago’s parking meters are doing better than expected, and now they’re demanding an additional $14 million they say they’re owed under obscure provisions of the wildly unpopular 2008 deal that privatized metered parking and caused rates to soar, records show.

Disputing the claim, City Hall says Chicago Parking Meters LLC is seeking a “windfall to which it is not entitled.”

Former Mayor Richard Daley pushed through this  75-year contract in 2008, and was rewarded handsomely. Now he’s left new lawmakers with the mess he’s made.

Privatization is always revered as a savior, where private companies swoop down and force efficiencies on bloated state governments. Problem is, that’s not true in most cases. Privatization usually results in private companies walking away with large amounts of state funds and offering minimal services.

13 Responses to Chicago Parking Meters to Become Most Expensive in U.S. at $6.50 an Hour

  1. Carolyn Marshall Reply

    December 27, 2012 at 5:43 pm

    Daley was an idiot to get into that parking contract. I pray that Emmanuel can break it. I will walk before I park on the street. I encourage others to consider walking.I hope Emmanuel and the City Council do not give that private paking company $14 million.

  2. Carolyn Marshall Reply

    December 27, 2012 at 5:39 pm

    Daley was an idiot to get into that parking contract. I pray that Emmanuel can break it. I will walk before I park on the street. I encourage others to consider walking.

  3. Rasheed7 Reply

    December 27, 2012 at 5:38 pm

    In Philly you pay at least $10 to get in a lot. I guess they figure they can raise the price all the way up to just under the price to get into a parking lot or garage.

    Stop driving into town… that will fix the problem

  4. Carolyn Marshall Reply

    December 27, 2012 at 5:37 pm

    Daley was an idiot to get into that parking contract. I pray that Emmanuel can break it. I will walk before I park on the street.

Leave a Reply

Your email address will not be published. Required fields are marked *

Connect with Facebook


*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>