How Chicago’s Parking Meter Mistake Adds to the Cost of Parking

The city of Chicago does not get parking meter money. This is the story. Chicago’s Parking Meter Mistake During the Great Recession, Chicago’s budget problems got worse. Imagining a parking revenue bonanza, they decided to lease their parking meters. For what appeared to be a whopping amount–$1.15 billion–they offered a 75-year lease to a Morgan […]