Chicago gets $22 million bill from parking meter company

May 24, 2012

Associated Press

The company running Chicago's parking meters is hitting the city with another large billing, this time for $22 million to cover a year of free parking for vehicles with disability placards.

Documents obtained by the Chicago Tribune show the latest bill was sent May 17 by Chicago Parking Meters LLC. It's part of nearly $50 million that Mayor Rahm Emanuel is refusing to pay.

Former Mayor Richard Daley got the City Council to approve the 75-year contract that gave the company control of Chicago's parking meters. In return, the city got a one-time payment of $1.1 billion.

Since Emanuel took office last year, he has been clashing with the company over the contract details.

The deal is deeply unpopular in part because it has resulted in increased meter rates.

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