Chicago to top downtown parking meter rates in United States
According to a widely popular news in area, Chicago is about to get another title. But for residents, this title is not so pleasing. Chicago car owners will be paying highest in United States for downtown parking. According to a reports, the cost to park at metered spot will be USD6.25/hr, up from USD5.75. These rates are set to be revised for downtown first,followed by other areas in Chicago.
The charges for downtown Chicago parking will be highest in North America as well. Chicago will be followed by San Francisco at USD5.50, New York and LA at USD5 and Seattle at USD4, according to San Francisco Municipal Transportation Agency. The recently revised parking amount is double of what Chicago people paid in 2008. It was the same year, 2008, when Mayor Richard Daley leased out city’s parking meters for next 75 years to Chicago Parking Meters LLC. The lease condition allowed company to revise rates for 4 years and decide parking meter rates based on inflation 2014 onwards. In response of the deal, Chicago received one time payment of more than USD 1 billion. Though, current Mayor, Rahm Emanuel has already ordered independent audit of deal.