An article examines "Exhibit A for bad public contracting"—a 75-year lease between Chicago a Morgan Stanley-led private consortium for 36,000 parking meters—as a cautionary tale about the lingering impacts of bad deals.
In 2008, Chicago signed a $1 billion contract with a private company to manage the city's parking meters. According to an article by Stephanie Farmer and Donald Cohen, "[after] the ink was dry, the city’s inspector general concluded that the city sold the meters $1 billion dollars under their value. Parking rates skyrocketed, and the terms of the lease protecting Morgan Stanley’s investment created new annual costs for the city."
The post then goes on to apply lessons from the bungled portions of that contract is continuing to hinder planning efforts in Chicago, including the removal of parking meters in connection with the city's planned BRT lines, pedestrian safety improvements, and adjustments to rush hour realignments.
FULL STORY: Why Chicago’s Botched Parking Meter Privatization Is Also Bad for the Environment
Parking Privatization Efforts Not Spreading Smoothly
In the wake of the problem-plagued privatization of Chicago's parking meters in 2008, two WSJ reporters assess conversions (or attempts) in Indianapolis (2010), Pittsburgh, Los Angeles, Cincinnati and New York, as well as what went wrong in Chicago.
Motorists Sue Chicago Parking Meter Operator
A lawsuit claims a company's 75-year contract to manage the city of Chicago's parking meters amounts to an "unreasonable" monopoly.
Chicago to Install New Parking Meters to Lessen Impact of Bad Contract
The city of Chicago will install 752 new parking meters in 2017—but still fall far from the Shoupian ideal.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
Delivering for America Plan Will Downgrade Mail Service in at Least 49.5 Percent of Zip Codes
Republican and Democrat lawmakers criticize the plan for its disproportionate negative impact on rural communities.
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Balancing Bombs and Butterflies: How the National Guard Protects a Rare Species
The National Guard at Fort Indiantown Gap uses GIS technology and land management strategies to balance military training with conservation efforts, ensuring the survival of the rare eastern regal fritillary butterfly.
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