Chicago’s parking meter system raked in another $132.7 million in 2018, putting private investors on pace to reap a hefty return on their initial $1.16 billion investment with 65 years to go on the 75-year lease. The company is expected to continue to rake in an average of $60 million in annual parking meter revenues for the life of the lease.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.