Chicago City Council Members Say They've Renegotiated Parking Meter Deal with Stonepeak Partners

Chicago city council members say they've renegotiated parking meter deal with Stonepeak Partners

Three Chicago City Council members announced they have negotiated a revised parking meter deal with New York-based Stonepeak Partners to the benefit of the city.

'Lemonade out of lemons': Alders negotiate sweetened deal for Chicago parking meters

In 2008, Mayor Richard Daley sold the city's parking meters for $1 billion. It's been called one of the worst deals in municipal history.

Chicago inching towards parking meter sale

There may soon be a green light to a deal that would sell the city of Chicago’s parking meters. | WBBM Newsradio 780 AM & 105.9 FM

City Council leaders broker compromise on parking meters, focus of the deal Chicagoans love to hate

The proposal calls for the City Council to approve a $2.53 billion sale to Stonepeak Partners in exchange for tangible benefits that could chip away at the city's $882.4 million budget gap.

Deal Reached to Sell Chicago Parking Meters to Investment Firm, Alderpeople Say – WTTW (Chicago)

The new deal requires Stonepeak to sell Omni Air International, which has a contract with the Department of Homeland Security to provide long-haul deportation flights, according to the City Council members. In addition, Stonepeak has agreed to pay the city $75 million once the sale closes. Those funds will be earmarked for the city’s pension funds, according to the City Council members.

Chicago aldermen say they've reached new parking meter deal, including profit share

Some Chicago aldermen say they've reached a new agreement with Stonepeak Partners in a parking meter deal. The company has stopped DHS flights.