Just about every Chicago mayoral hopeful
is going out of his or her way to criticize the city's long-term parking
meter lease. (It's wildly unpopular, after all.) Gery
Chico has introduced a city ordinance intended to replenish the meter
reserve fund, which the Daley administration has virtually drained in
just two years. Like some lawyers who are challenging the deal in court,
Carol Moseley Braun wants the city to take the parking meters back
from the private company to which the city sold the system. (To repay
Chicago Parking Meters LLC. for its property, however, Moseley Braun
says she would advocate "redoing the contract and selling it to
somebody else.") Rahm Emanuel has even criticized
the outgoing mayor's use of the funds. (He has not yet offered a fix
going forward, however, and remains cordial with clout-heavy William
Blair & Company, the firm that first brought to the Daley
administration the idea of privatizing the system.)
The meter acrimony doesn't stop there. In the Council Chambers, four city aldermen -- including Cook County Board President-elect Toni Preckwinkle -- introduced a resolution to put a question on the ballot asking, "Shall the City of Chicago re-negotiate the Parking Meter Privatization Agreement?" It's not just local pols who think the city erred greatly, either; Bloomberg's Darrell Preston reported this morning that several cities including Indianapolis, Pittsburgh, and Los Angeles are using Chicago's experience as a case study of how not to privatize its meters.
We should hope these criticisms aren't just campaign theatrics. Going forward, several city services could be sold off to plug budget gaps. Every single deal should face as much scrutiny as the meters are generating currently.
UPDATE (12:57 p.m.): Moseley Braun has actually launched a website -- TakeBackOurQuarters.com -- devoted to the issue. On the site, she also notes that she would "sue William Blair for their role in letting this horrible deal go through."
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