NYC May Follow Chicago’s Meter Privatization Example
Chicago is not really known for being a cutting edge city.
Normally, trends start in LA or New York and a decade or two later, finally make it to Chicago.
But in at least one regard, it seems Chicago is a real trend setter.
Just under two years ago, Mayor Daley made Chicago the first city in the nation to privatize it’s parking meter system.
Now other cities are following suit.
Currently, Pittsburgh seems ready to pull the trigger on a 50 year meter lease for $452 million.
Los Angeles, nearby Indianapolis and a handful of other cities have been mulling over the idea as well.
But now, it looks like the nation’s largest city, New York City, may follow Chicago’s lead as well.
According to a story in Monday’s New York Post, the Big Apple is considering selling off its 54,000 plus meter system, estimating it could generate an upfront payment of $5 billion.
But former Indianapolis mayor and now deputy mayor for NYC Steven Goldsmith says the city won’t be rushed into a deal that would dry up a revenue stream that produced $138.9 million in revenue in 2009.
But as The New York Observer theorizes, if the city’s budget situation gets worse, that $5 billion may just be too tempting to pass up.
Chicago alderman Scott Waguespack (32nd), seemingly now the national spokesperson against parking meter privatization, was quoted in the Post’s piece as well.
“Oh, no!” Chicago Alderman Scott Wauguespack exclaimed after being told that New York officials were studying what his city had done.
“It filled the budget gap for one year,” he said. “Now, we’ve lost our revenue stream for the next 70 or so years.”
Here’s the full story in the New York Post, “City mulls $5B meter sell-off.”
Amazing that anyone would consider this after it has been shown that Chicago sold this for roughly $0.10 on the dollar over the life of the 75 year lease.
Since Chicago OWNS more red light cameras than any other city in the U.S., there is a trend, fraudulent to the molecular level in government.
Yeah yeah yeah.
We have been paying a quarter for an hour for ages – and half the guys with the cars left it parked in spots the whole day screwing up parking for the other half.
With elections etc. we couldnt expect the city to raise or enforce parking as LZ or whatever parking does.
So I for one am happy with the parking deal. I can find parking everywhere – I can pay with credit cards – and city got some money.
Question for Chicago 45th Ward: Don’t you find it odd that other Cities ARE following Chicago’s lead? And alot of them. Does it make you wonder if, perhaps, Chicago did get full value and the folks telling you otherwise are ignorant?
Amazing lack of intelligence. Simply amazing.
I guess Mike Bloomberg is willing to pull the ejection seat lever on his political career. Just like Daley did. Does New York have a “parking ticket geek”?
[...] plan, Indianapolis is strongly considering a similar deal, and Los Angeles and just recently, New York City are both investigating the [...]