Joe Ferguson on Chicago’s parking meter transfer, budget shortfalls, CPS cuts, and pension risk

Fran Spielman interviews Chicago Civic Federation president and former inspector general Joe Ferguson about the pending sale of Chicago Parking Meters LLC’s remaining 57 years to Stone Peak Partners, which City Council must authorize by Sept. 30. Ferguson says the city has limited leverage and should negotiate marginal contract improvements—especially reducing “true-up” reimbursements—rather than reject the transfer and risk lawsuits, financial damages, and reputational harm.