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Podcast: City Cast Chicago
Episode: The Worst Deal Chicago Ever Made
Description: West Loop lost a lot of free parking this summer, which has us talking about the city’s infamous parking meter deal. In 2008, City Council voted to privatize Chicago’s parking meters for 75 years in return for $1 billion. But in the years since, analysis after analysis has shown the meters were worth much more, and the city lost out on revenues while investors earn a profit as Chicagoans pay some of the highest parking rates in the country. While he was at the Reader, Block Club Chicago reporter and editor Mick Dumke investigated the deal after it first passed. He t...