From DNA Info Chicago
The city will pay $20 million in 2018 to the private firm that leases the city's parking meters — in addition to all of the revenue from the meters — under the terms of the much-loathed 2008 deal, officials said.
The city must make "true-up" payments to Chicago Parking Meters to compensate the firm for lost revenue when meters are removed, temporarily taken out of commission with the city's permission or used by motorists with disabled parking permits, according to the terms of the deal.
Despite changes made by Mayor Rahm Emanuel in 2013 designed to make the deal better for city taxpayers, the 2018 "true-up" payment will rise 16.3 percent from last year, said Molly Poppe, a spokeswoman for Emanuel's budget office.
Read more here...