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Del Valle Vows to Fight Parking Meter Lease

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    NEWSLETTERS

    Mayoral candidate says he found a loophole with which to challenge the deal. (Published Tuesday, Feb 8, 2011)

    Mayoral candidate Miguel del Valle won't give up on reversing the much-maligned Chicago parking meter lease.

    Del Valle Tuesday announced a loophole which he believes the city can use to challenge the $11 billion contract with a Morgan Stanley-led group of investors.

    "Today, I'm calling attention of another route to redoing the contract," Del Valle said. "Specifically the city's ethics code. If bidding companies don't register as lobbyists ... the city has a right to void the contract. Morgan Stanley did not register."

    He said his team would continue to look at ways to repeal the contract and if elected would make it a top priority.

    "As mayor, I would do everything in my power to change the contract," he said. "Chicagoans deserve answers and deserve to know how the contract came to be."

    Del Valle called out opponents Rahm Emanuel and Gery Chico for giving up on the issue.

    "This is the worst contract in history of the city," he said.

    For more than five days in the wake of last week's blizzard, the city of Chicago suspended parking meter ticket enforcement. Today, a city spokesman told Crain's Chicago that the city is not on the hook for any parking revenue lost.

    Because the city never "closed" any of the meters, it's not responsible for replacing money that was lost, per the contract.