Chicago parking rate hikes should be tied to inflation, and out-of-towners should pay more, Ald. Dowell says
Chicago Finance Committee Chair Pat Dowell proposed tying annual parking rate hikes to inflation and charging higher fees to out-of-town motorists following a new revenue-sharing deal with the city's parking meter owners.
Chicago parking rates have been frozen since 2022 and it “makes sense” to raise them annually to match the inflation rate — while asking out-of-town motorists to pay even more, the City Council’s most powerful member said Thursday.The City Council just reached a compromise deal with Stonepeak Partners, the new owners of the city's parking meters, that included securing for city coffers 5% of net profits earned by Stonepeak. On the heels of that deal, Finance Committee Chair Pat Dowell (3rd)…
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