CHICAGO (CBS) — Members of the Chicago City Council’s so-called “Progressive Caucus” were trying to pressure the Emanuel administration to help move an ordinance that would provide more information about efforts to privatize city assets or services.

Proponents said the measure to require more disclosure of pending privatization deals has been bottled up in committee, even though Mayor Rahm Emanuel said he’s generally in favor of the proposal.

Ald. John Arena (45th) said the city’s history with privatization shows aldermen need more information about such efforts before they vote on turning over city services or assets to private companies.

“This is an opportunity for leadership. This has been discussed since the parking meter deal passed; that we need the council to be a forum to discuss our financial transactions, discuss privatization deals, and evaluate them on their merits,” he said.

Aldermen have never gotten over the sting of voting for the city’s disastrous 75-year parking meter lease in 2009, without knowing the full scope of the agreement.

The infamous parking meter lease handed over control of the city’s paid street parking system to a private company, which was allowed to keep all parking meter revenue for 75 years, in exchange for only $1.15 billion in revenue up front. The city’s inspector general’s office has said the city could have raked in nearly double that amount of revenue had it kept the meters, minus relatively miniscule maintenance costs.

Ald. Roderick Sawyer (6th), the lead sponsor of the proposal, said he hopes the spotlight of the mayoral campaign will prompt Emanuel to do the right thing.

“I think, because there is an election going on, I think the administration sees the need for increased transparency in their dealings with the citizens of Chicago,” Sawyer said.

Emanuel reportedly favors the main goal of the ordinance, but wants some changes before a floor vote is held.