Chicago taxpayers may have to pay $57.8 million in parking fees because of a mistake by city hall.
The Chicago Sun-Times reports an independent panel of arbitrators ruled last month that former Mayor Richard Daley’s administration violated the terms of an agreement with Chicago Loop Parking, LLC.
The company runs four city-owned, downtown parking garages.
The company filed a lawsuit after the Daley administration allowed a competing garage to open in the Aqua building at 225 N. Columbus Drive. The new garage was a block from Chicago Loop Parking’s nearest garage.
Mayor Rahm Emanuel has 60-days to appeal the decision.