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Report says Chicago bungled parking deal | Boston Globe | 6/4/2009

From Bloomberg | June 4, 2009

Chicago leased its parking meters to private investors for $974 million less than they're worth, says an inspector's general report, which called the transaction aimed at closing the city's budget deficit "hasty" and "secretive."

The city should have given elected officials more time to review the arrangement, gotten an independent assessment, and held public hearings before awarding the lease, said a statement by Chicago Inspector General David Hoffman.

Read the story in the Boston Globe...