02/12/2009 05:12 am ET Updated May 25, 2011

City Phasing Out Coin Parking Meters

The quadrupling of fees this year to park at most meters in Chicago marks only the beginning of changes coming to a curbside near your car.
You can of course bid a nostalgic farewell to the decades-old pole-mounted meters with coin slots and expiration flags, as a result of the almost $1.2 billion deal Mayor Richard Daley announced last month to outsource parking management in the city over the next 75 years to Chicago Parking Meters LLC.

While city officials said it's too early to chart a specific timetable, drivers will be able more than ever to use credit cards and other payment forms instead of fumbling for coins as hourly meter rates rise to the equivalent of a restaurant hamburger.

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