Chicago delays vote on parking meter sale, risks litigation

(The Center Square) – A long-awaited vote from the Chicago City Council to move forward with approving the sale of the city’s parking meter infrastructure between two private entities has again been delayed.

After weeks of back and forth, aldermen in Chicago have likely kicked the approval of the controversial sale months down the road, as the council doesn’t meet in August.

The parking meters were sold for a 75-year term by former Mayor Richard M. Daley for $1.15 billion in 2008. The infrastructure will all return to city ownership after that term.

Finance Committee Chairmanwoman Pat Dowell announced before the committee’s meeting Monday that a vote to advance the ordinance from Mayor Brandon Johnson to approve the private sale would be delayed – providing little reason.

Stonepeak, a New York investment firm with a pending $2.53 billion bid for the infrastructure, previously threatened to sue the city to recoup legal fees if the council rejected the sale.

In response to The Cent...