Big cities cautious about privatizing parking after Chicago's effort - Sacramento News - Local and Breaking Sacramento News | Sacramento Bee
Chicagoans were outraged when meter rates soared and the machines briefly malfunctioned. The city's inspector general said the $1.15 billion price the city received was way too low. While the operating company says citizen anger has abated, the deal is still viewed in political circles as a mistake.
This tepid article says that despite the Chicago catastrophe, which this reporter just calls a public relations problem, Sacramento is going to do it, too. Most city governments have at least some ability to learn from the failures of others, but not Sacramento, it seems. The rates in Chicago doubled. The payoff to the city was half what it should have been. The city has lost control over its own streets and now has to pay off the private vendor whenever any stretch of road doesn't deliver the money, such as if a block is closed for a street festival. The vendor is a front company for a mysterious sovereign wealth fund. Try getting through them sometime with your complaints.
Thanks to Fred Pilot for the link.