A legal battle over parking is heating up in Chicago.
Mayor Rahm Emanuel's administration has filed a lawsuit in the hopes it won't have to pay the entire $57.8 million that a panel of independent arbitrators said the city owes a private company that operates four city-owned parking garages.
The arbitrators determined that former Mayor Richard Daley's administration violated the city's $563 million deal with Chicago Loop Parking LLC when it allowed a competing garage to open.
The city says it has agreed to pay the competing garage as much as $28.5 million to stop allowing public parking and that it should only have to pay Chicago Loop Parking $4 million because that's what it lost because of its agreement with the other garage.
“Whether it’s $20 million a year in savings with the parking meter deal or nearly $30 million in savings through a creative legal solution on the Aqua parking garage, we will continue to fight and do whatever we can to save taxpayers and the city from unnecessary expenses,” said Steve Patton, Corporation Counsel for the city of Chicago.