In 2008 the City of Chicago signed a 75 year lease with private parking meter companies to extort a lifetime of revenue from drivers. The public has been paying dearly ever since.
In a boondoggle of a deal marked by utter corruption, the city undersold the public streets of Chicago by what was then estimated to be almost 1 billion dollars. It has since been shown that the losses are much larger. The miserly $1.2 billion dollars the city received for the deal has since generated $11 billion dollars in profits for companies like Morgan Stanley. In the first decade of operation these companies made back 10 times the initial investment and there is still over 60 years left of extortion to go.
In the meantime city residents have lost their public parking spaces, thousands of free spots have turned into paid spots, and fees for parking have spiked to the highest rates in the nation.
The worst part of the deal is that every time the City of Chicago has to close down a city street for cleaning, construction, or parades, the city is obligated to reimburse the parking meter companies for lost revenue. Hundreds of millions of dollars have been spent by taxpayers just for making common use of the city streets for public purposes.
Bad Deal
~ 2 Investigators- More Evidence Of A Bad Parking Meter Deal – YouTube
- 2 Investigators- More Evidence Of Bad Parking Meter Deal – CBS Chicago
- Chicago parking snafu a cautionary tale for suburbs – Daily Herald
- Chicago’s Parking Meter Deal a Lesson in ‘Worst Practices’ – Better Government Association
- Chicago’s Parking Meter Deal a Prescription For Trouble – HuffPost
- Chicago’s Parking Meter Debacle- Back in the News – Chicago Magazine
- Chicago’s Parking Meter Mishap- Successful ‘Fiasco’ – Governing.com
- Chicago’s disastrous parking meter deal is a cautionary tale for cities trying to lure Amazon – Medium
- Del Valle- Parking Meter Deal Is Bad For Chicago – CBS Chicago
- FAIL- The Reader’s Parking Meter Investigation – Feature – Chicago Reader
- FAIL, Part One- Chicago’s Parking Meter Lease Deal – Feature – Chicago Reader
- FAIL, Part Two- One BILLION Dollars! – Politics – Chicago Reader
- FAIL, Part Three- The Insiders – Feature – Chicago Reader
- How Mayor Emanuel locked the parking meter deal in place – Politics – Chicago Reader
- Parking meter deal Chicagoans love to hate gets worse…again – Chicago Sun-Times
- Parking meter deal keeps getting worse for city as meter revenues rise – Chicago Sun-Times
- Parking Meter Deal Signed, Sealed, Delivered. Ouch – HuffPost
- The Great Chicago Meter Debacle – The Provocateur
- That parking meter deal is still haunting Chicago. Here’s one fix Lightfoot can make. – Chicago Tribune
- The Parking Meter Fiasco – Jay Stone for Mayor of Chicago
- Why I Hate the Chicago Parking Meter Lease Deal – HuffPost
75 Year Lease
- Chicago leases parking meters for $1.16 billion – Reuters
- Chicago To Lease Parking Meters To A Company That Will Charge $6.50 An Hour? – Consumerist
- City Leased The Streets Along With Its Parking Meters- Study – HuffPost
- Parking Meters — The Easy Version – Bleader
Sold for Less
Corruption
- Bribe taker in Chicago parking meter deal gets 6 months in jail – Chicago Sun-Times
- Chicago parking meter scandal, part LXII
- Ex-LAZ Parking exec pleads guilty – Chicago Sun-Times
- Ex-LAZ Parking Exec Pleads Guilty to Kickback Scheme Involving Chicago’s Parking Meters – NBC Chicago
- Ex-LAZ Parking exec to plead guilty to alleged Chicago parking meter scam – Chicago Sun-Times
- Ex-LAZ Parking exec pleads guilty – Daily Herald
- Ex-parking meter exec given 6 months in prison for Chicago bribe scheme – Chicago Tribune
- Ex Parking Exec Pleads Guilty To Chicago Parking Meter Kickback Scheme – CBS Chicago
- Ex-parking VP says Chicago bribe unnecessary, left him a ‘pariah’ – Chicago Sun-Times
- Exec pleads guilty to kickback scheme with Chicago’s parking meters – Chicago Tribune
- Feds focus on LAZ executive for alleged parking meter bribe – WLS-AM 890 – WLS-AM
- Feds Focus On LAZ Executive For Alleged Parking Meter Bribe – CBS Chicago
- Figure faces fraud charges in city’s much-maligned parking meter deal – Chicago Tribune
- Former LAZ Executive To Plead Guilty In Parking Meter Kickback Scheme – CBS Chicago
- News reports link George Levey to Chicago bribes – oregonlive.com
- Read- Felipe Oropesa’s plea agreement – Chicago Tribune
Fines
Lost Free Parking Spaces
~ New Parking Meters Frustrate In Wicker Park – YouTube
~ New Parking Rules, Additional Meters Coming to Chicago’s West Loop in 2020 – NBC Chicago – VIDEO
- Goodbye, Free Parking Spot- Here’s Where The City Will Put 752 New Meters – The Loop – Chicago – DNAinfo.url
- Mayor Emanuel says he ‘reformed’ the parking meter deal, but he actually sold off more of the city streets – Bleader
- No more free parking along lakefront – ABC7 Chicago – abc7chicago.com – ABC7 Chicago
- No More Free Parking At Meters – CBS Chicago
- New Parking Rules, Additional Meters Coming to Chicago’s West Loop in 2020 – NBC Chicago
- Wicker Park Merchants Say New Meters On Division St Have Hurt Business – CBS Chicago
Lost Revenue Subsidized
- Analysis- Bad Skips Worse, Goes Directly To Disaster When It Comes To Parking Meter Lease Deal – theexpiredmeter.com
- Business Interests To Pay For Lost Parking Meter Revenue At NATO Summit – CBS Chicago
- Chicago mayor orders audit of parking meter lease – Reuters
- Chicago parking meter company wants more money; mayor balks – Chicago Sun-Times
- Chicago’s Parking Meter Debacle- The Check Is Not in the Mail – TIME.com
- Chicago Parking Meter Deal- City Now Owes Nearly $50 Million To Meter Company – HuffPost
- Chicago Parking Meters Bills City $13.5 Million For Disabled Parking – theexpiredmeter.com
- Chicago to pay $20 million to parking meter company in 2018 – Illinois Policy
- City Likely To Get Big NATO Bill From Parking Meter Company – CBS Chicago
- City on Hook for Handicapped Parking in Metered Parking Spots – The Chicagoist
- City, parking meter company lock horns – Chicago Tribune
- City Says It’s Being Overbilled With Chicago Parking Meter Tab – The Chicagoist
- City’s Parking Meter Tab Now At $50 Million – The Chicagoist
- Parking Meter Company Bills City For Even More Money – The Chicagoist
- Parking Meter Company Dings City For Another $14 Million – theexpiredmeter.com
- Parking meter firm bills Chicago for lost revenue – Yahoo! News
- Parking Meter Firm Bills City $2.1M For Lost Revenue From Street Closures – CBS Chicago
- Parking Meter Firm Bills City Another $2.1 Million – theexpiredmeter.com
- Parking Meter Firm To Get Extra $20 Million From City In 2018 – Logan Square – Chicago – DNAinfo
- Parking Meter Firm Threatens Mediation Over Bill Sent To City – CBS Chicago
- Parking meter firm’s take from city rises – Chicago Tribune
- Rahm Emanuel Says The City Won’t Pay Parking Meter Company’s $13.5 Million Bill – HuffPost
Rate Hikes
~ $3 Parking Meter in Chicago – YouTube
- Businesses Take ‘Half-Full’ Approach To Parking Meter Deal – CBS Chicago
- Chicago hourly parking to increase – again in 2012 – WBEZ Chicago
- Chicago Parking Fees Increasing, But City Set to Save Millions – Chicago News – WTTW
- Chicago Parking Meter Rate Hike Delayed A Month – HuffPost
- Chicago Parking Meter Rates About To Go Up For 5th Year In A Row – CBS Chicago
- Chicago Parking Meter Rates Go Up Today – WBEZ Chicago
- Chicago Parking Meter Rates To Rise In 2012 – HuffPost
- Chicago parking meter rates to rise again in 2013 – Chicago Tribune
- Chicago’s New Parking Meter Reality- What You Need To Know – HuffPost
- Clout St- First parking meter rate increases to start Friday – Chicago Tribune
- Downtown, Neighborhood Street Parking Rates Increase – CBS Chicago
- New Year– and New Chicago Parking Meter Rates – Chicago Now
- Parking in downtown Chicago to cost $6.50 per hour in 2013 – Chicago Business Journal
- Parking Meter Rate Hike Begins After Month Delay – Chicago – Chicago – DNAinfo
- Parking meter rates increase in Chicago – ABC7 Chicago
- Parking Meter Rates To Rise In Chicago – NPR
- Parking Meter Rates To Rise In Chicago – WGCU PBS & NPR
- Parking rates in Chicago to go up. Again – Daily Herald
- Parking rates to rise up to 20% next week – Chicago Business
Rate Hikes – Most Expensive
~ Chicago’s parking meters the most expensive in America – YouTube
~ Chicago parking most expensive in U.S. – ABC7 Chicago – VIDEO
- Chicago Has North America’s Most Expensive Parking Meters – The Chicagoist
- Chicago parking meters will be US’s most expensive – Daily Herald
- Chicago parking meters will be US’s most expensive – Yahoo! News
- Chicago parking most expensive in U.S. – ABC7 Chicago
- Chicago Parking Rates Rise to Nation’s Most Expensive – Beverly, IL Patch
- Chicago Retains Title For Nation’s Highest Parking Meter Rates – Chicago – Chicago – DNAinfo
- Chicago to Have Most Expensive Parking Meters in North America – NBC Chicago
- Chicago’s Parking Meter Rates Highest In Nation – theexpiredmeter.com
- Congratulations, Chicago- Your City Now Has The Most Expensive Parking Meters In The U.S. – Consumerist
- Dubious distinction for Chicago parking meters – CBS News
- The most expensive airport parking in America – Today
Revenue
~ Company’s 2012 Parking Revenue Still Unknown – NBC Chicago – VIDEO
~ Morgan Stanley Makes 10X What Taxpayers Got For Meters! – YouTube
- Chicago meter money keeps flowing to private investors – Chicago Reader
- Chicago Parking Meter Revenue Surged $30 Million In 2012, City Council To Take Up Deal Tweaks – HuffPost
- Chicago’s Awful Parking Meters Make Big Bucks For Private Investors Again – The Chicagoist
- Company’s 2012 Parking Revenue Still Unknown – NBC Chicago
- Companies raked in nearly $266M from parking meters, other city assets last year – Chicago Sun-Times
- Company Piles Up Profits From City’s Parking Meter Deal – The New York Times
- How Did Chicago Turn Parking Meters Into Wall Street Gold? – Mother Jones
- Morgan Stanley’s Chicago Haul Makes Cities Redo Deals – Bloomberg
- Morgan Stanley Group’s $11 Billion Makes Chicago Taxpayers Cry – Bloomberg
- New Parking Meter Deal Could Net $360M for Private Operator, Aldermen Say – DNAinfo
- Parking firm would make more money on pay-by-cell plan – Chicago Tribune
- Parking Meter Revenue Up $30M in 2012 – NBC Chicago
- Parking meters, garages took in $156M — but city won’t see a cent – Chicago Sun-Times
- Private company rakes in millions more from Chicago’s parking meters – Bleader
- Report: Chicago Parking Meters to make $73 million in 2010 – ABC7 Chicago
- Report Shows Parking Meter Revenue Up, Insight Into Settlement – Chicago – Chicago – DNAinfo
- The Parking Meters Collected $131 Million In Revenue In 2014, But Not For The City – The Chicagoist
- While the city is strapped for cash, the private parking meter company makes millions of dollars more – Bleader
Overcharged
Free Parking for Elite
~ Chicago OIG- CPD Officers Abuse Parking Privileges – YouTube
~ I-Team finds vested interest in free parking on Chicago streets – YouTube
New “Deal”
~ Aldermen in the Dark on Parking Meter Details? – Chicago News – WTTW – VIDEO
- Aldermen in the Dark on Parking Meter Details? – Chicago News – WTTW
- Chicago parking meter deal revised, but is it better? – Chicago Business
- Chicago Parking Meter Settlement- End Of City’s Legal Battle Yields Free Sunday Parking, Longer Hours – HuffPost
- Free Sunday Parking But Also Pay-Until-Midnight in River North in New Deal – Downtown – Chicago – DNAinfo
- Free Sunday Parking, But Longer Weekday Hours Under Meter Settlement – CBS Chicago
- City Reaches Settlement On Parking Meter Lease Deal – theexpiredmeter.com
- Mayor Emanuel ensures parking meters remain in private hands – Bleader
- New tweak in Emanuel’s parking meter plan – Chicago Business & Financial News & Analysis – Chicago Business
- Revised deal still a gain for parking meter vendor, analysis finds – Chicago Tribune
Lawsuit
- IVI-IPO Files Lawsuit Over Parking Meter Lease – Parking Ticket Geek
- IVI-IPO Sues the City Over the Parking Meter Deal – Bleader
- Lawsuit challenges Chicago parking meter deal – Reuters
- Parking meter lawsuit stayin’ alive – Bleader
- Parking Meter Mess Goes to Court – NBC Chicago
Protest
~ Chicago Parking Meter Protest. City Hall. July 29, 2009 – YouTube
~ Chicago Parking Meter Protest – ARX TV Independent News – YouTube
- 100+ Demonstrators Protest Parking Meters – Parking Ticket Geek
- BREAKING- ‘Stop The Meter’ Protesters Picket Ald. Pope’s Home – Parking Ticket Geek
- Chicago Parking Meter Privatization Protest Planned For Sunday In Wicker Park – HuffPost
- Group protests parking meter changes – ABC7 Chicago
- Meter Protesters March On City Hall – Parking Ticket Geek
- Parking Meter Protest Planned For City Hall – Parking Ticket Geek
- Parking meter protest on Commercial Ave. – ABC7 Chicago
- Parking Meter Privatization Protest Planned For Sunday In Wicker Park – theexpiredmeter.com
- ‘Stop The Meters’ Rally Opposes Lease Deal, New Meters – Parking Ticket Geek
- ‘Stop The Meters’ Rally Set For Tomorrow – The Chicagoist
Rebellion
- 50 Parking Meters Vandalized, Many In Uptown – Uptown Update
- Chicago parking meters marred by vandals – Chicago Tribune
- Chicago’s New Parking Meters Go Missing. Tears Are Not Shed. – The Two-Way – NPR
- Dozens of city parking meters vandalized – ABC7 Chicago
- Has The Parking Meter Revolt Begun? – theexpiredmeter.com
- Has The Parking Meter Revolt Begun? – HuffPost
- North Side parking meters vandalized – WGN-TV
- Parking meters vandalized in Chicago – UPI.com
- The Parking Meter Revolt Rolls On – HuffPost
- Update- At least 125 downtown parking meters vandalized – Crime – hoosiertimes.com
- Vandalism rises on higher-priced meters – ABC7 Chicago
“Privatization” is “Crony Socialism”
- Chicago, Ugly Urban Parable of Privatization – Forbes
- Chicago’s Privatized Parking Meters Are An Epic Failure – Consumerist
- Costs of Privatization Hidden in Plain Sight – TruthOut
- How To Sell Off a City – In These Times
- Lessons from Chicago on Parking Meter Privatization – LaborPress
- On Privatization’s Cutting Edge – The Nation
- Public-Private Partnerships for Parking Assets – Reason Foundation
- Setting the Record Straight on Chicago Parking Meter Privatization – Reason Foundation
- The Perils Of Privatization – Slate
- The Privatization Backlash – The Atlantic
- Why Chicago’s Botched Parking Meter Privatization Is Also Bad for the Environment – Next City
Reports
- Chicago Metered Parking System Concession of 2008 – Public private partnership
- City of Chicago Municipal Code – Metered Parking System – PDF
- Innovative Infrastructure Delivery – Metropolitan Planning Council
- REPORT OF INSPECTOR GENERAL’S FINDINGS AND RECOMMENDATIONS: ANANALYSIS OF THE LEASE OF THE CITY’S PARKING METERS June 2, 2009 – FULL REPORT PDF