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https://chicago.suntimes.com/city-hall/2022/5/26/23143356/chicago-parking-meters-75-year-lease-daley-city-council-audit-skyway-loop-garages-krislov https://chic

• TylerE 4y ago
  Not sure that's quite making the argument you think it is. Gross revenue is roughly $12/resident/year, and that's not factoring in administrative costs, staffing, etc. That's pretty small change.
  • xxpor 4y ago
    Who cares about per resident? That's $35 million in profit per year already (after paying off the contract). That's not nothing. If admin costs and staffing come anywhere even close to that, the contractor is screwing up. >Since 2009, CPM has invested $38 million to modernize the City’s on‐street parking, replacing 36,000 outdated single‐space, coin‐operated ‘meters’ with 4,700 state‐of‐the‐art pay stations that accept both credit and debit cards. In addition, CPM has established a refund option, a 24‐hour customer service center and a state‐of‐the‐art maintenance and repair process. https://parkchicago.com/about/ https://parkchicago.com/about/ So one year's profit investment into infra.
    • TylerE 4y ago
      Not nothing, but it’s about 1/500th the city budget, which is over $16B/yr