City Estimates NATO Parking Meter Bill At $65,000
City of Chicago officials are telling the Chicago Tribune that they estimate the bill for the loss of parking meter revenue due to the recent NATO Summit to be around $65,000.
Because of obvious security concerns to protect the world leaders and diplomats, including the President of the United States, who were attending the NATO talks, many streets had to be closed to vehicular traffic. Some of those streets have metered parking and therefore, when closed, per the infamous Chicago parking meter lease deal, the city is subject to a bill for lost revenue from Chicago Parking Meters, LLC.
But the good news, according to city spokespeople, is that taxpayers won’t be on the hook for the bill from NATO. As expected and previously announced by the city, private donors will foot the bill for the lost parking meter revenue–a relief after a seemingly endless flow of bills from the meter company for street closures and disabled parking that currently total $50 million bucks.
The city will present a detailed report of expenses in about a month.
Here’s the Tribune’s short piece, “Taxpayers won’t foot NATO parking tab.”