Of the three deals, the parking meter deal has been the biggest political nightmare for the two mayors who inherited it and for Chicago aldermen who granted that deal lightning-fast approval. Steep rate increases would have been bad enough. But broken and frozen pay-and-display boxes and overstuffed and improperly calibrated meters that overcharged motorists made it even worse.
Motorists were initially so incensed by the rate hikes, they vandalized and boycotted meters, leading to a dramatic drop in on-street parking.
Revenues recovered until the pandemic. The latest financial report by KPMG provides even more proof of what a great bit of business that deal was for the private investors, who hail from as far away as Abu Dhabi. The contract requires the city to reimburse investors for every space that became temporarily unavailable — whatever the reason. Budget and Management spokeswoman Kristen Cabanban had no immediate comment about the latest audit.
Scott Burnham, a spokesman for CPM, could not be reached. Kling: This was signed in , it was just as the economy was starting to collapse.
Chicago had a big budget problem and so Mayor Daley used the money to plug these short-term budget gaps. Kling: Mayor Emanuel was clear that he did not think this was a good deal, which was a very mainstream position at the time.
He did try to do things to improve it for the city. One of the biggest controversies was the calculations of these things called true-up payments. Contact the BGA at The state's history of corruption has the public craving good government, empower the inspector general's office as a start to restoring confidence. Ranked-Choice Voting faced one of its biggest tests yet.
Did it live up to expectations? Is it the future? In addition to class-action status, the lawsuit is seeking a reimbursement of legal fees, undisclosed monetary damages and other relief. Skip to content. A parking meter is seen in the Near North neighborhood on June 24, , in Chicago.
Armando L.
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