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Originally Posted by Nowhereman1280
I don't understand how heavily subsidizing street parking by charging about 1/8th the hour rate of a parking garage is in any way beneficial for the city.
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If a private firm can increase rates, then why cant the city do that itself and collect the profits rather than having them funneled to some multinational investment group? We're forgoing long term funding for a short term infusion of cash (which is almost already gone anyway since Daley is using it to fill budget gaps). Its an incredibly short sighted solution to a far more systematic problem. Not to mention, now that those assets are out of the citizens hands (for 75 years no less), they no longer get a say in how they're run (nor can they vote out/elect people to run them). Public goods should remain in the public's hands. Period.
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When it comes to deciding where to locate a company, how expensive the meter parking is will have almost no bearing on the decision. However, when it comes to where employees decide to locate, the location, price, and convince of getting to work plays a huge role. Thus I would argue that higher prices for parking will only encourage people to move closer together.
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It might not matter to a company, but it sure matters to the people who have to live in those neighborhoods, or want to shop there. I used to drive into the city a couple times a month to buy records. Now I simply go to a different shop in Forest Park, where I can park for 1 hr for 25 cents and instead spend that extra couple bucks on a used vinyl.
In what world do you live in that increasing the cost of living causes MORE people to move in, rather than out?