Story by 89 WLS Reporter Bill Cameron
(CHICAGO) One influential alderman is trying to breathe some life into the idea of killing the dreaded parking meter lease.
Last week, WLS-AM was reporting how the mayor could end the parking meter lease by getting a court to kill it and repaying the parking meter company.
“Too expensive,” said the mayor. Now downtown alderman Brendon Reilly says finance experts are telling him, maybe not.
“I think everybody in the city would like to take back this deal. The mayor is right. It would be very expensive to do it. The question now is what’s the dollar amount we’d need to pay and do we have the financial wherewithal and bonding ability to do it?”
We already know it would cost well over $1 billion and may be closer to $2 billion, so this is still a long shot.
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