We can all thank former Mayor Richard Daley for the change in parking meters before he left office. It was one of his worst decisions during his stint as Chicago’s Mayor, along with the late night demolition of Meigs Field. It was obvious the quick fix, leasing the meters to a private firm for 75 years for $1.15 Billion in 2008, would cost city residents dearly. But many may be surprised at the speed of the increase and amount.
The city has officially earned a title Chicago residents are dreading…the most expensive parking meters in the nation. Effective January 1, 2013, get ready to dish out even more when parking in the city; including the loop and area neighborhoods.
Parking meter rates in the loop will increase to a whopping $6.50 per hour (up 75 cents), so you may want to ride the bus going forward. It is an outrage that the Mayor sold us out for a one-time fix and the deficit was never even repaired.
Where did all that money go? Why do we continue to suffer?