Everything you need to know about proposed changes to Chicago’s despised parking meters deal
Chicago’s City Council is considering a $2.53 billion bid from Stonepeak Partners to acquire the city’s parking meters by September 30. Leaders have proposed changes to the controversial deal to protect taxpayers. The council must decide whether to approve the new terms or face potential arbitration and court proceedings.
The City Council is facing a Sept. 30 deadline to either approve New York investment firm Stonepeak Partners' $2.53 billion bid to acquire Chicago parking meters, or roll the dice in arbitration and in court.Before casting that controversial vote, City Council leaders have brokered a compromise to try to level the playing field for Chicago taxpayers. What changes did they make? Why is the parking meters deal so controversial? Here's what you need to know: What was so bad about the 2008 parking…
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