CHICAGO, April 29, 2013 /PRNewswire/ -- The City of Chicago announced today that a settlement agreement and amendment to the Chicago Parking Meter Concession Agreement will be introduced to City Council on May 8, 2013. CPM is hopeful that the City Council will ratify both agreements.
In the best interests of the people of Chicago, CPM collaborated with the administration and believes that our willingness to work with the City demonstrates our desire to provide the most efficient and technologically advanced parking meter system possible for the City of Chicago.
About Chicago Parking Meters
Chicago Parking Meters LLC (CPM) is the third-largest metered parking system in the United States and the largest system privately operated under a concession agreement. CPM is responsible for the operation, management, maintenance, and rehabilitation of Chicago's on-street parking, and since 2009 has invested over $35 million in system modernization and customer service improvements. With electronic pay boxes at most of the approximately 36,000 metered spaces in the city's downtown and neighborhood areas and maintenance processes, it is one of the most sophisticated parking operations in the U.S. and has resulted in Chicago being ranked #1 in the world for on-street parking in IBM's 2011 Global Parking Survey. CPM, through its philanthropy program, CPM Community Partners, serves Chicago's communities by investing both time and money in youth-focused organizations across the city. For more information, please visit www.chicagometers.com.
SOURCE Chicago Parking Meters LLC