The parking meter lease saga continues, as CBS 2 reports that under the city’s lease agreement with Chicago Parking Meter LLC, it could be paying hundreds of thousands of dollars each year to the company for revenues lost when the city closes metered spaces for street construction, fairs, block parties or other projects. Critics opposed to the lease pointed this fact out as well as 32nd Ward Alderman Scott Waguespack, who voted against the lease. However, this makes of us think of 33rd Alderman Dick Mell‘s remarks during the original vote on the lease about how could he be expected to read the small print. Did those voting for the lease not bother to do just that? more ›

According to the Reader's Mick Dumke, Ald. Joe Moore (49th) sent out an email to constituents this morning informing them that the hearings on the Great Meter Debacle will commence this Thursday, July 2nd. This considering the City has already announced plans to spend some of the money made from the deal. more ›

A new ordinance will give Chicago aldermen at least 60 days to review major city lease agreements and sales in the city. The law, which was approved by the city council June 3, permits aldermen to call in independent auditors before the city contracts are put out to bid. It also allows the council to call on the office of the inspector general for review agreements, though the council retains its usual responsibility for review. more ›

A couple of weeks after Chicago Reader's Ben Joravsky and Mick Dumke published a story estimating that the city was grossly underpaid in the parking meter privatization deal, City Inspector General David Hoffman has released his own report on the lease with LAZ Parking and he agrees -- he estimates that the city should have been paid over $2 billion dollars instead of the $1.15 billion it received. more ›

On Wednesday, a bevy of new parking meter boxes across downtown stopped working, leading to free parking for many. Yesterday, Mayor Daley blamed it all on the media a computer glitch, acknowledging frustration with the new system: "Let's be realistic, everybody's frustrated about what took place [Wednesday], the glitch that took place." But some elected officials were more vocal in the frustration. more ›

Blame it on the rain? Those new parking meter boxes that are all the rage downtown have now decided to stop working. Many of the boxes, including several near City Hall, ceased working today, forcing the police to declare a moratorium on parking tickets, according to the Chicago Tribune. City Budget Department spokesman Pete Scales told the Trib that the problem was affecting 125 of the 556 pay boxes: "They are telling us all the repairs will be made by the afternoon." more ›