“The final purchase price was far too high, much more than they initially received for the sale, and higher than most reasonable assumptions would support,” Mayor Brandon Johnson said.

“This is pretty much a wash,” Ald. Jason Ervin (28th Ward) said.

The much-loathed 2008 deal requires the city make “true-up” payments to Chicago Parking Meters to compensate the firm for lost revenue when meters are taken out of service by the city.

The city's inspector general said it was “troubling” that the city did not hold the firm that leases the city's parking meters accountable for seven years.

Maybe you’ve heard of the infamous Chicago parking meter deal. Here’s why it’s so unpopular and why it became a case study in worst practices.

The Chicago City Council passed the mayor's revised parking meter deal by 39-11. Paris Schutz has the latest.

Could the city buy back its parking meters from Chicago Parking Meters LLC? Paris Schutz has more on why one alderman says it's possible -- and preferable to the mayor's proposed changes.

Almost half of the Chicago City Council has signed on in support to Mayor Rahm Emanuel’s parking meter changes, barely one day after the voluminous amendment was introduced to them.

Mayor Emanuel's plan to return free water to some nonprofit organizations advances in the Chicago City Council. But just who will pay for water and why are some religious leaders still upset? Paris Schutz has the latest on that, and the controversy over parking meters.

Is the mayor's office withholding crucial information about the new parking meter deal from aldermen? Carol Marin has the latest.

We share some of your comments on the new parking meter rules in tonight's Viewer Feedback.

Mayor Emanuel says his parking meter settlement will net the city $20 million a year, but won't release his calculations. Chicago's top lawyer and Ald. Scott Waguespack (32nd) join our panel.

The mayor negotiates big changes to the controversial parking meter deal. But will it save taxpayers any money? Paris Schutz has the latest.