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Alderman Talking To Bond Experts For A Way Out Of Parking Meter Deal

Chicago Parking Meter (CBS)

Chicago Parking Meter (CBS)

dellimore250 Craig Dellimore
Craig Dellimore, political editor for WBBM, joined the station in 1983...
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CHICAGO (CBS) – The Alderman for much of downtown Chicago and River North says he’s talking with bond experts to see if there’s a way for the City to buy back its 36-thousand parking meters leased to a private company a few years ago, reports WBBM Political Editor Craig Dellimore.

In a newsletter to 42nd Ward residents Alderman Brendan Reilly says he is getting expert help trying to find ways of getting out of the city’s 75-year parking meter lease deal championed by former Mayor Richard Daley.

Reilly doesn’t buy current Mayor Rahm Emanuel’s contention that the city doesn’t have the money, but last week the Mayor was insistent.

“I’ve looked at every which way and I have had our financial team look at every which way,” said Emanuel.

The Mayor and the parking meter company have agreed to some proposed changes , but Reilly worries the company would still get the better of the city.