In 2009, Chicago traded 75 years of parking meter revenue for a $1.2 billion payment that helped fill an immediate budget hole. Norm Van Eeden Petersman is joined by Tony Jordan, executive director of the Parking Reform Network, and Edward Erfurt, chief technical advisor at Strong Towns, to look at what the city actually gave up and why its recent $3.3 billion bid never made it to the finish line. The lease still shapes decisions about removing parking for bus lanes, bike lanes and wider sidewalks, while the revenue keeps flowing to a private operator instead of back into the places generating it. That leaves Chicago with a much harder question than whether the original deal was bad: what would it take to manage the curb again, regain flexibility and use that money to improve the streets themselves?
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