Mayor Johnson’s Team Secretly Offered $3.3 Billion To Buy Back City’s Parking Meters, Other Bidder Says – Block Club Chicago

“So the mayor put a bid in six months ago, $3.3 billion, for parking meters that we don’t have the money for, didn’t disclose that to anybody in the City Council, and then agreed to a non-disclosure agreement, did not have to talk about said agreements, and now is unwilling to share all this information,” Ald. Matt O’Shea said. “I’m guessing someone on the fifth floor is listening right now, and I think we need to get someone down here to answer some of these questions.”
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Taxpayer
1 month ago

Didn’t mayor 6.6% once say “we are the most transparent administration ever”.

Isn’t Illinois Fun?
1 month ago

There’s some merit to the idea of buying back the contract, depending on the price of course. The original purchase price was $1.57 billion, it took just 10 years to pay that off. As it stands, I think that 75 year lease ends in 2083 so repurchasing should be a net long term positive, if done right. Of course, the city doesn’t have the billions, it’d have to issue bonds, no sure bet, or borrow and raise taxes to pay for one of the dumbest things Daley ever did, the Skyway being another.

Callmyshrink
1 month ago

Another democrat using our money like their personal bank account.

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