Alderman meets with bond experts on buying back parking meters - Chicago Sun-Times
Mayor Emanuel says there is no way this horrible privatization deal, made by former Mayor Daley, can be unwound, but Alderman Reilly claims he has talked with bond experts who say it is possible. The fun part of this is that when Daley stepped down as mayor, he went to work for the law firm that advised the city on the horrible deal.
"City Hall sources said Emanuel’s legal and financial teams explored “every available option, including finding a way out” of the widely-despised parking meter deal. But, former Mayor Richard M. Daley’s decision to drain nearly all of the parking meter proceeds to balance his last few budgets without raising taxes took the re-acquisition option off the table, the sources said."
1 comment:
Eminent domain. The only question is a determination of value.
I'm a little curious as to whether the city gave the purchaser of the parking meters an exclusive right to license occupancy of public street space.
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