Chicago will raise rates at parking meters to a buck an hour. Wow, this is significant on so many levels.
1. Is this a congestion tax designed to force people to mass transit?
2. The meters will be leased to a private firm, so to make it attractive, the revenue has to be higher.
3. There will be a significant investment to switch out coin-only parking meters to accept bills, or is it dollar coins/credit cards only?
Some of the parking spots will eventually be raised as high as $6.50 per hour in the coming years.
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