Officials promoting a 50-year lease of Indianapolis’ parking meters have taken pains to point out the differences between their proposal and a controversial 75-year parking meter lease in Chicago. But a close look at both contracts shows Indianapolis’ pact largely uses the Chicago template.
The pitch from Mayor Greg Ballard’s administration to privatize the city’s parking meters is compelling, but the proposal
to sell the meters to Dallas-based Affiliated Computer Services Inc. has the city giving up more in the long run than is immediately
The city has entered into a 50-year lease agreement with Dallas-based Affiliated Computer Services Inc. The
city will receive $35 million upfront and a share of revenue to make sidewalk and street repairs. Parking meter rates are
to double in some areas.
Mayor Greg Ballard has put privatization of Indianapolis’ stadium and convention center management on indefinite hold.
Mayor Greg Ballard’s potential lease of more than 15,000 street, surface and garage parking spaces could create turnover downtown
and in Broad Ripple, boosting retailers and restaurants.
Cost savings from combining three utilities helped give Citizens Energy Group an advantage in the deal to take over Indianapolis’
water and sewer operations, said Michael Huber, the city’s director of enterprise development.