Chicago Parking Meters Up To A Buck An Hour: Equivalent Of Congestion Tax?

In a budget balancing move, Chicago is upping the parking meter rate from a quarter per hour to at least a dollar an hour, starting next year. Done by privatizing.

Rates for most city parking meters will increase to $1 an hour in the coming months as a result of Mayor Richard Daley's deal to lease the spots for $1.1 billion to a private firm... The most expensive meters, which are found in the Loop, cost $3 an hour now. They will increase to $3.50 an hour next year and $6.50 by 2013.
Via:Chicago Tribune, Clout Street, Most city parking meters to cost $1 an hour Although lower income people who feel they must park downtown will be adversely affected, that's a narrow view of the issue. The measure will help reduce congestion, increase use of public transit and improve air quality.

Let's hope there will be extra, free bike racks provided by landlords and building managers.

Image credit:Watawa Life, Parking Meters, by Robin

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Tags: Chicago | Illinois | Traffic