Chicago City Council committee to hold hearing on parking meter company transfer

The Chicago City Council Finance Committee will hold a hearing Monday on the city's parking meter deal.

An ordinance before the City Council would approve the proposed transfer of the parking meter agreement to a new company.

But Ald. Scott Waguespack (32nd) and 21 other alders sent a letter to Mayor Brandon Johnson last week, informing the mayor they're rejecting the move to transfer the meters to a new company until he provides details.

The alders are demanding transparency. 

Back in 2008, then-Mayor Richard M. Daley sold the city's parking meter system to a private company for $1 billion, with little objection from alders.

There are no votes planned at the hearing Monday.