CHICAGO – Mayor Rahm Emanuel says the city has settled legal disputes involving Chicago's 75-year-long parking meter contract.
Emanuel announced the deal Monday. As part of the new agreement with the private company that runs the city's parking spaces won't charge for parking in city neighborhoods on Sundays. The deal now goes to the Chicago City Council. Chicago Parking Meters LLC says its willingness to work with the city shows it wants to provide an efficient system.
The two sides have been in a battle over tens of millions of dollars the company says it is owed because of street closures. The city has refused to pay much of what the company says it is owed.
The City Council approved the contract in 2008. In return, the city got $1.1 billion.