Montrose Harbor Paid Parking Meters Could Help City Turn Profit For First Time In Disastrous Parking Deal’s History, Officials Say – Block Club Chicago

The city sold the 75-year rights to its paid parking program to investors for $1.15 billion in 2008. The deal has been an albatross for the city. But with the new meters, parking revenues are expected to be $10.5 million in 2021, surpassing anticipated reconciliation payments for the first time and enabling the city to finally keep some of the revenue.
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DixonSyder
5 years ago

Sold by former mayor Richard M Daley who then became an attorney for the law firm representing the parking meter group as Daley’s chief of staff, Avis Lavelle, became the CEO of the same parking meter company. Crooks? Sold off the meters for a 10th of their value and both received plush jobs in return. Corruption? If you’re gonna be a thief, a crook or corrupt politician Chicago is the place to be.

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