CHICAGO (CBS) — Even some Aldermen who are supportive of parts of Mayor Rahm Emanuel’s parking meter deal are agreeing with downtown Alderman Brendan Reilly that the City should consider trying to get out of the whole deal, reports WBBM Political Editor Craig Dellimore.
Ald. Brendan Reilly (42nd) said bond experts have told him the city could, in effect, buy back its parking meters from the company that leased them for 75 years, and finance the deal with future revenues.
Ald. Deborah Graham (29th) said she would like to see that too, if possible.
“Why don’t we bond ourselves out of it, if it is such a horrible package, and with the hikes of the payments we could pay for it over a long haul, or bond ourselves out and start the deal over; get us a better package in the long run,” said Graham.
Ald. Jason Ervin (28th) agreed it should be considered. Both he and Graham also have signed on to a statement supporting the free Sunday parking that would come with the revised deal the mayor is trying to push through the City Council.