The proposed rate changes:
At the high end in the Loop.. from $3.00/hr right now.. to $6.50 by 2013.
At the low end in some neighborhoods.. from 25 cents/hr... to 2 bucks by 2013.
And not just 9-to-5 -- but 24/7!!
The Mayor's working to get the city council to sign off on big increases in the cost to feed city parking meters. It's actually part of a big privatization deal that would let an outside group run the meters, in exchange for paying Chicago more than a billion bucks, up front, to do so. (Big bucks that could obviously pump some much needed cash into city coffers during these tough economic times.)
BUT... could this all backfire? Could such high Chicago parking rates convince many to simply skip coming downtown altogether? Thus, taking a real bite out of city sales tax revenue (- cuz all those downtown restaurants and shops, etc. just won't be selling as much)!
If it costs more to park downtown and elsewhere in Chicago, will YOU skip the trip?
And if you live in the city, how does it affect you?
