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Aldermen Weigh Privatizing Parking Meters

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An ordinance to privatize Chicago’s parking meters passed a city council committee today. But some aldermen were not happy about the deal.

Aldermen just got the details of the parking meter plan yesterday. And it was easy to tell most weren’t happy about having to vote on it so soon.

ALLEN: Not to beat a dead horse, but with respect to the issue of timing...

But Alderman Tom Allen and others still approved the 75-year deal to privatize the meters. Some, like Jim Balcer, were enthusiastic about the 1.2 billion dollar windfall.

BALCER: If someone could show me where we could get a billion dollars right away, fine. Let me know.

But others were more hesitant. Scott Waguespack said he crunched some numbers and says the city could’ve done better.

WAGUESPACK: My biggest concern is the long-term loss of money that we would have from this deal.

Waguespack also says he’s received a lot of calls from residents angry about the parking fare increases attached to the plan. The measure is scheduled to go before the full city council tomorrow.

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