OIG Report Closely Examines Parking Meter Lease, Recommends Major Reforms

A new report released by the Inspector General’s Office sheds light on the manner by which the lease of Chicago’s Metered Parking System was planned, negotiated, and implemented. The independent review shows inadequate financial considerations by City officials, the failure to explore viable alternatives to the 75-year lease as a means to fill the 2009 budget deficit, and it recommends how the City can undertake the lease or sale of public assets in the future using a more deliberative process.