Meter Lease Deal- A Daley Double

Sale of Parking Meters Shows Politics as Usual in Chicago

Sheldon Zeiger

Theexpiredmeter.com

 

What a great Chicago story.    

It’s the kind of saga where urban legends are made. The details will make the hair on the back of your neck stand on edge. If this tale wasn’t actually true, there is no way anyone would believe it. What a fantastic moment. We have the unique privilege of watching Chicago folklore in the making.

The Chicago Way

The business transaction itself is bizarre, truly absurd. A sitting local government, mayor and City Counsel, decide to lease the income stream from the 36,000 parking meters on the streets of Chicago. This isn’t a straight up sale, but a lease agreement for 75 years.

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