- Rich Hein/Sun-Times Media
- Private investors continue to collect millions of dollars a year from Chicago’s parking meter system.
The private company that controls Chicago’s parking meter system had another banner year in 2013, raking in $135.6 million in revenues from the public, according to an annual audit posted Friday afternoon on the city’s website.
The mayor was right in the short run, at least. The audit shows that total revenues for Chicago Parking Meters LLC dipped slightly from the $139.5 million reported for 2012, though the cold weather and other factors may have come into play.
In contrast, CPM issued $600 million in bonds in 2010 and appears to be on pace to recoup its investment within the first two decades of the deal.
