3 ms·
Daley in particular was quite a piece of work - particularly in closing out his time in office with the parking meter giveaway. I can't help but wonder what kin
by fencepost 11y ago
Daley in particular was quite a piece of work - particularly in closing out his time in office with the parking meter giveaway. I can't help but wonder what kind of kickback evidence to he and his family we'd find if anyone were actually to do a real investigation of it.
The real kicker is that if the city removes parking spaces temporarily or permanently, it must compensate the private vendor for the lost revenue. That makes sense, but when you throw in that it's a 75-year deal it starts to get a little murkier - want a bike lane? Better budget for the next 70 years of paying the vendor for the parking revenue for any removed spaces (and how is that calculated? Does it get recalculated every year? Is it based on nearby comparable areas or on fixed utilization percentages that don't account for changes in driving patterns and neighborhoods over time?)
I strongly suspect that given changes in how people drive, etc. that by the end of the 75-year agreement Chicago will have ended up paying more in penalties to the vendor than they got in the first place, even indexed for inflation.