Chicago gets winning bid to privatize parking meters

The Chicago Sun-Times reports:

It looks like Mayor Daley's giant budget gamble has paid off -- and then some.

On Monday, the city received what a top mayoral aide described as a "winning bid" for Chicago's 35,000 parking meters.

The winner and final price won't be known until Daley announces it Tuesday. But, it's large enough to fill the $150 million budget gap this year and next needed to avoid another painful round of layoffs and tax increases -- and leave a pile of money left over to finance city infrastructure projects.

The sale of yet another city asset means motorists will almost certainly have to pay more to park at metered spaces -- and even higher prices during peak periods in congested areas

Chicago is going to get even more expensive and less competitive.