Politics & Government
Chicago Parking Rates Rise to Nation's Most Expensive
Residents will need to pitch in an extra quarter to park on neighborhood streets and Chicago becomes the most expensive city to park in.
Parking meter rates are increasing in January and residents will have to pay an extra .25 cents an hour to park on local streets.
That change will make Chicago the city with the most expensive parking meters, according toThe Huffington Post.
On-street parking rates will increase to $2 an hour in the neighborhood and $4 near downtown, according to a press release from Chicago Parking Meters.
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On Jan. 1, meters in the Loop will rise from $5.75 to $6.50, an 11.5 percent increase. The rest of the meters will increase to the new rates by the end of February.
Former Chicago Mayor Richard Daley and the City Council approved a 75-year contract with Chicago Parking Meters, LLC four years ago. The contract has come under widespread criticism, and current Mayor Rahm Emanuel ordered an independent audit of the deal.
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The company provides the city’s on-street meters and has scheduled increases in the agreement.
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