Results tagged “parkingmeterdeal”

So as we stare down higher property tax bills and a potential transit fare hike, here's more good news: the parking meter rates are going up, too. As The Parking Ticket Geek points out, when the City Council passed that controversial parking meter lease that Mayor Daley engineered, it also included a yearly increase in rates. These annual rate increases will continue through 2013. $1/hour rates will go up to $1.50, $2/hr up to $2.50, and $3.50/hr up to $4.25. The increases hit January 1, 2010.

Mayor Daley's budget for 2010 has been presented and, as expected, there were no new taxes but lots of cuts. There will also be much taken from the parking meter lease fund. In fact, by this time next year, don't expect much to be left from the $1.15 billion/75-year deal, the deal we may have gotten hosed on. Having already spent $400 million of that money this year, according to the Tribune, Daley is looking to spend an additional $600 million of that money in 2010. We're no math geniuses and even we know that doesn't leave a whole heck of a lot left in the pot for the remaining 70+ years of the lease, something that concerned Ald. Scott Waguespack (32nd) earlier this week. All told, Daley claims that there will still be around $700 million left in reserve funds - the combination of the Skyway and parking meter leases - next year. A cut in the city's tourism budget also raised eyebrows. And besides the cuts to entertainment and furlough days for non-union employees and elimination of vacant jobs, there are smaller cuts, too, such as the scaling back of the city's recycling program.

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