Tag Archives: Chiago parking meter lease deal
Big Apple Moves Forward With Parking Meter Privatization
Despite Chicago’s historically epic failure in privatizing its parking meter system in 2008, New York City has opted to move ahead with doing a similar thing there.
In fact, NYC is citing Chicago by name, as the model for what not to do to successfully pull off a meter privatization deal according to the Wall Street Journal.
The WSJ is reporting New York City issued a request for qualification (RFQ) for potential vendors to manage the city’s 80,000+ metered parking spaces on Monday. This is the first step towards requesting bids for the contract and eventually awarding a vendor with a deal to manage the nation’s biggest parking meter system grossing $150 million a year, while netting $93 million a year for the city.
