The cited 3% annual return should be seen as a floor, not a ceiling. Both nominal and real returns have crept upward significantly over the life of the contract

The cited 3% annual return should be seen as a floor, not a ceiling. Both nominal and real returns have crept upward significantly over the life of the contract. The 2022 nominal rate of return was 12%, probably a 6-7% real rate of return, I'm not doing a precise calculation right now. Numbers are here, 2022 revenue was $140.4 million: https://chicago.suntimes.com/city-hall/2023/6/11/23755615/chicago-parking-meters-annual-audit-record-revenue https://chicago.suntimes.com/city-hall/2023/6/11/23755615/ch...