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Chicago IGO Blasts ParkingMeter Lease A report released by the City of


Chicago Inspector General’s Office (IGO) shows, in detail, how the city’s 75-year lease of its parkingmeterswas the culmination of uninformed finan- cial considerations, a secretive plan- ning process, and a failure to explore viable alternatives that would have achieved the same budgetary goals. The city leased the Chicago


Metered Parking Systemfor $974mil- lion less than its value to the city, the independent review shows, according to the IGO news release accompany- ing the report.What’smore, the release says, the city did not properly estimate the meter system’s value in the first place – a vital detail in determining whether such a deal was in the city’s best financial interests. While the Inspector General’s


Office does not question the serious- ness of the City’s budget problem thatwas presented in fall 2008 because of the recession, the hasty, “crisis” nature of the decision-making process meant that the short-termbudget prob- lems and the large upfront payment the city would receive overshadowed all other legitimate, long-term, public- interest issues. The report shows, in addition, that


even if the only way the city could close this budget gap was to secure a large one-time payment by leasing its


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parkingmeter systemto a private com- pany, there were alternative terms under which it could have done so. For example, the city could have executed a shorter lease with a revenue-sharing provision, which would have plugged the budget gap without having the city suffer a large long-termloss. However, the ability to consider


any alternatives whatsoever was effec- tively eliminated, when, without any details regarding the lease, the antici- pated revenue from the sale was included in the 2009 City Budget, the IGO news release says. “The lease terms were negotiated,


bids were accepted, and a vendor was chosen well before the (City) Council had the chance to review any of it,” InspectorGeneralDavidHoffman said in the news release. Even if members of the council


had more time to review the deal, as presented, it still boiled down to a “yes or no” proposition. With a longer review period, the result would not necessarily have been amore delibera- tive process. “Another two weeks to review the


results ofmonths of closed-door nego- tiations would have been negligible,” Hoffman said.


To see the entire report, go online to www.chicagoinspectorgeneral.org.


Off-Airport Valet Operation


Begins at Kansas City On June 1, Park Air Express


began presenting travelers with valet parking, a service combination not previously offered at other parking areas at Kansas City InternationalAir- port (KCI). The off-airport facility is run by


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KCI’s existing parking operator, Standard Parking, under the nation- wide Park Air Express brand. Valet parking will complement Garage, Circle and Economy parking current- ly offered at KCI, says a news release from the Kansas City (MO) Aviation Department. The venture fulfills the city’s


effort to maximize the use of airport land and offer superior customer serv- ice to residents and visitors, the news release says. Travelers merely need to


JULY 2009 • PARKING TODAY • www.parkingtoday.com


pull to the covered entryway and get out of their cars. Trained valet drivers will park the cars while customers are taken by shuttle to their gates. When returning to KCI terminals,


customers are taken to the Park Air Express facility, where their cars will be waiting for them – cooled down in the summer andwarmed up in thewin- ter. The valet facility also houses a comfortable customer service building where travelers can linger inside should there be a wait for the next shuttle bus. Complimentary benefits will be


offered such as luggage assistance, newspaper, coffee and bottled water, WiFi, automatic bill pay and a frequent parker rewards program, the news release says.


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