The City of Chicago leased its parking meters for nearly $1 billion less than they were worth and the office in charge of valuing the meters didn't even run the numbers, according to a scathing report released Tuesday by the city's inspector general.
The "dubious" deal, reached hastily in December, to lease the city's 36,000 parking meters to a private company for 75 years for $1.157 billion earned the city about $997 million less than they were worth, a difference of...
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