05/14/2013 10:46 am ET

Alderman Meets With Bond Experts On Buying Back Parking Meters


Downtown Ald. Brendan Reilly (42nd) said Monday he’s been meeting with municipal bond experts to try and identify ways to buy back Chicago’s 36,000 parking meters and he’s been told it’s “within the art of the possible.”

Mayor Rahm Emanuel has summarily dismissed the idea of buying back the meters from the company that paid the city $1.15 billion to control them for 75 years, adding, “We don’t have the money. We spent it prior to my coming here. We don’t have the billions of dollars.”

Read more on Chicago Sun-Times