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Parking meter deal keeps on giving — for private investors, not Chicago taxpayers (www.wbez.org)

submitted 2 years ago by pbrisgreat@midwest.social to c/chicago@midwest.social

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From the article:

Results of the latest parking meter audit by accounting giant KPMG shows meter revenues reached a record $140.4 million last year, up from $136.2 million in 2021 and $91.6 million during the stay-at-home shutdown of 2020...
...With 60 years left on the 75-year lease, Chicago Parking Meters LLC now has recouped its entire $1.16 billion investment and $530 million more.

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[–] BlueLineBae@midwest.social 1 points 2 years ago

Just one more reason to take transit I suppose.