Comment Chicago sued over the parking meter deal (Score 1) 863
The Independent Voters of Illinois-Independent Precinct Organization (IVI-IPO) sued the City of Chicago this morning, charging that because of the meter deal taxpayer money is illegally being used to benefit a private company, Chicago Parking Meters LLC. You can click on to the Chicago Reader blog story here...
Ben Joravsky and Mick Dumke of the Chicago Reader have been excellent investigative journalists uncovering the corrupt parking meter fiasco. What it comes down to is the meters being sold off for peanuts ($1.5 billion over 75 years is nothing), and the public's right to know trashed. Clauses in the meter contract have been said to inhibit transportation innovation in the city. If one wanted to expand bike lanes or add streetcars and needed to remove meters to facilitate that, the city would have to pay LAZ/Morgan Stanley for lost revenue. Here's a link to their blog postings on the Chicago parking meters...
http://www.chicagoreader.com/chicago/ArticleArchives?tag=parking%20meters
And hats off to the Independent Voters of Illinois-Independent Precinct Organization (IVI-IPO), finally someone steps up to sue the City of Chicago. I'm becoming a member today...
