CHICAGO (AP) — Chicago soon will have the most expensive downtown parking
meters in the nation.
On New Year’s Day, meters in the city’s downtown Loop area will charge $6.50
an hour — an increase from the current rate of $5.75.
A report from the San Francisco Municipal Transportation Agency says the
rate change will make Chicago the city with the most expensive metered
The company that operates the meters plans to have all machines set to new
rates by the end of February. Drivers don’t have to pay the new rates until
the machine they’re using has been reset.
Former Mayor Richard Daley got the City Council to approve the 75-year
contract that gave the company control of the meters. In return, the city
got a one-time payment of $1.1 billion.