Maybe you’ve heard of the infamous parking meter deal. Here’s why it’s so unpopular and how it became a case study in worst practices. Let's set the scene: It's 2008.
The meters are a serious moneymaker — just not for Chicago.Maybe you’ve heard of the infamous parking meter deal. Here’s why it’s so unpopular and how it became a case study in worst practices.A global financial crisis strikes, and everyone is a little strapped for cash — including Chicago. The city is broke.
A hastily formed investment group — the creatively named Chicago Parking Meters LLC — agreed to cough up $1 billion and change for a 75-year lease, and Chicago City Council rubber-stamped the plan faster than members could read the terms of the deal.
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