Although the city is free to remove meters or change rates and hours of operations, Chicago Parking Meters LLC must be compensated for the loss of revenue at a rate that assumes “a car were parked in the space for 24-hours-a-day in the Central Business District,” the study said.

Fran Spielman has a piece about the Active Transportation Alliance’s report on the parking deal; the ATA’s Arline Welty has a summary at Progress Illinois.