Chicago Parking Meter Rate Hike Delayed A Month
For the past three weeks, Chicago drivers have unknowingly been enjoying a reprieve from paying America’s highest parking meter rates.
That’s because none of the city’s more than 4,100 parking meter pay boxes have been changed to reflect the higher rate which officially went into effect on Jan. 1.
That means city parkers, who are still paying the 2012 rate, have collectively saved close to $900,000, based on past monthly revenues generated by the meters.
According to the terms of Chicago’s parking meter lease deal the city signed in 2008 under former Mayor Richard Daley, city meter rates were supposed to rise for the fifth time in five years at the start of 2013.
Read more at DNA Info Chicago