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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.

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13 comments

  1. …Daley's a piece of shit.

  2. 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.

  3. 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.

  4. 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

  5. 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.

  6. Daley really screwed up Chicago..and then ran his fat ass off into the sunset! I decided to leave the city/state within the next 12 months. If Negroes allow any monuments to be built in Daley's honor..they deserve to have their butts kicked.

  7. Glad I don't work downtown Chicago anymore… I worked 12am to 8am…You have to pay to park on the street even at night…It use to be free they even put meters at the beach…When I worked downtown I parked indoors & we only payed $75.00 a month at night but if you worked days it is about $250.00 a mouth…Next they are going to try to put meters on the streets in the city not just downtown…All hell is going to break loss then….

    • I understand the parking meters downtown is an attempt to deter folks from driving downtown, parking all day. I get that. But, what was Dailey on when signed a 75 year contract with these idiots. Unless a loophole is found in contract the citizens of Illinois may end up paying much more to park. The city really have no say so… Where is the lawyers for the city?

  8. WTF???? A 75 year contract for parking meters. Who pay $6.50 to park a car?

  9. I don't plan on going to cihicago just like most these rotten politicians lining their pockets with our money why vote you don't know what the hell these idiots are going to do the morals of this country is going down.

    • WOW! I just don't get the dynamics of government. Are we NOT in a RECESSION? Donnell that's WHY we MUST STAY IN PRAYER EVERY CHANCE WE GET!

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