For $1.16 billion, Chicago Parking Meters LLC, has won the rights to manage Chicago's parking meters. This is one step the city has taken to ease budget shortfalls.
"Final approval of the deal, which will be decided by a city council vote on Thursday, would establish the first private concession for a publicly owned U.S. parking system, according to Mayor Richard M. Daley. Similar deals over the past three years have seen Chicago pocket nearly $5 billion from leasing the Chicago Skyway, downtown parking garages and Midway Airport.
Mr. Daley said at a news conference that the fresh funds, to be paid up front for a 75-year concession, will help the city avoid seeking federal government help to balance its budget. 'We're creatively working to protect our taxpayers for years to come,' he said at a news conference Tuesday."
"Net income from Chicago's roughly 36,000 parking meters totaled $18.9 million in 2007, according to the city. For more than two-thirds of the city's meters, the current per-hour rate is 25 cents. By next year, that rate will soar to $1, the first price increase at those meters in more than 20 years, the city said. The rate will gradually increase for five years, to become on par with the rates of other cities. Afterward, rates are expected to increase with inflation and must be approved by the city council."
FULL STORY: Chicago Banks on Private Parking

Manufactured Crisis: Losing the Nation’s Largest Source of Unsubsidized Affordable Housing
Manufactured housing communities have long been an affordable housing option for millions of people living in the U.S., but that affordability is disappearing rapidly. How did we get here?

Americans May Be Stuck — But Why?
Americans are moving a lot less than they once did, and that is a problem. While Yoni Applebaum, in his highly-publicized article Stuck, gets the reasons badly wrong, it's still important to ask: why are we moving so much less than before?

Using Old Oil and Gas Wells for Green Energy Storage
Penn State researchers have found that repurposing abandoned oil and gas wells for geothermal-assisted compressed-air energy storage can boost efficiency, reduce environmental risks, and support clean energy and job transitions.

Museum of Public Housing Opens in Chicago
The museum highlights the history of public housing in the United States using displays intimately woven with family artifacts.

HUD Ordered to Release Grant Funds After Anti-DEI Clawback
A federal judge ruled in favor of fair housing groups after the Trump administration tried to rescind housing grants.

Drop in Veteran Homelessness Offers Lessons
Bipartisan support, robust funding, and access to comprehensive data are keys to the success of programs that assist unhoused veterans.
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