Mayoral candidate Miguel del Valle thinks city leaders gave its citizens a raw deal when it agreed to privatize the city's parking meters, and he's not going to block efforts to overturn it.
"We are stuck right now with a bad deal, a bad deal for the residents of the city of Chicago, a bad deal for tourists, a bad deal for families who come and visit the city of Chicago. It's a bad deal all the way around," he said during a Friday morning press event.
As mayor, del Valle said he would support the efforts of the Independent Voters of Illinois Independent Precinct Organization, which is working to rule the 75 year, $1.15 billion deal unconstitutional.
He said he would also direct the city's lawyers to file a lawsuit against the private investment group that purchased the meters, Chicago Parking Meters, and its parent company, Morgan Stanley.
As of Saturday, drivers will be paying the highest parking rates in the country, a full $2 more in the Loop and Chicago's Central Business District than three years ago.
"This is crazy. It is inexcusable," said del Valle. "This deal must be renegotiated."
The lead attorney working with the IVI-IPO, Clint Krislov, contends the deal unlawfully restricts future city councils from making decisions about the number of meters on the streets, the rates and what hours they're enforced.
"Other city councils have the right to make new laws and regulations and this binds other city councils in that respect," he said this week.