There may soon be a green light to a deal that would sell the city of Chicago’s parking meters.
A number of Aldermen say they’ve reached a deal with New York based Stonepeak Partners to sell the city’s parking meter privatization for around 75 million dollars, plus a percentage of future profits.
Leaders have long lamented the 75-year, billion-dollar 2008 lease negotiated by then Mayor Richard M. Daley, including current Mayor Brandon Johnson.
“I always believed that there was a pathway forward to get a better deal. We know that this was the worst municipal deal of any kind in the history of the world, likely.”
Reports say the agreement would require Stonepeak to sell an airline that has been involved in deportations by the Trump administration.
It does require full City Council approval, and the Mayor told reporters he’s hopeful for a swift decision.
“I’m certainly grateful and feeling hopeful that the work that was done to put together a package, a better deal for taxpayers, that the City Council will find a path to deliver for the people of Chicago.”
