Authorization to approve ownership transfer of Chicago Parking Meters LLC membership interests to Stonepeak Partners LP pursuant to Amended Chicago Metered Parking System Concession Agreement
- Record number: SO2026-0025407
- Type: Ordinance; category: Agreements
- Status: Final (Signed)
- Sponsor: Johnson, Brandon
- Committee: Committee on Finance
- Submitted Date: May 20, 2026
- Introduction Date: May 20, 2026
- Final Action Date: Sep 29, 2026
- Official record: Office of the City Clerk
Impact report
Written by AI from the official document. AI can make mistakes; the official document always wins.
The City Council would approve selling full ownership of Chicago Parking Meters LLC to companies tied to Stonepeak Partners LP, with the company paying the City $75 million and agreeing to new terms in the parking meter deal.
Who it affects
- Drivers who use metered parking: The City could close metered spaces for up to ten hours during seven specified annual events, and the City and the company would look at adding on-street electric-vehicle charging stations.
- Immigrant residents: Data collected through the parking meter system could not be shared with federal immigration enforcement except as required by law or allowed by the agreement.
- Workers for the parking meter company and its operator: New standards would be added for how these employees are treated, plus reporting on employees living in socio-economically disadvantaged areas.
- City pension funds and their members: The $75 million payment, future sale fees, and the City's yearly profit share would go toward the City's pension contributions.
- Chicago Parking Meters LLC and its current owners: The current owners, including Morgan Stanley-linked funds and the owners of Deeside Investments, would sell their stakes, and the company would face new payments and annual audits.
- City Council and Chief Financial Officer: Future ownership sales of the parking meter company would follow a set process with a CFO recommendation within 30 days and a Council vote within 90 days.
What changes
- Chicago Parking Meters LLC would be fully owned by affiliates of Stonepeak Partners LP.
- The City could close metered parking spaces for up to ten hours for seven specified annual events.
- Parking meter data could not be shared with federal immigration enforcement except as required by law or allowed by the agreement.
- The City and the company would study adding on-street electric-vehicle charging stations to the meter system.
- City officials would audit the company each year on how it handles convenience fee revenue and wallet interest.
Money
- $75,000,000 paid by Chicago Parking Meters LLC to the City as Community Benefits Funds, to be used for City pension contributions.
- 2% of the sale price paid by the parking meter company to the City for any future approved sale of the company, used for pensions.
- 5% of the company's Calculated Net Income paid to the City each year as a City Profit Share, used for pensions.
When: Upon passage, approval, and publication in pamphlet form; the sale approval is revoked if the $75,000,000 payment and signed documents are not received by the end of 2026 or ten days after the sale closes, whichever is earlier.
Timeline
- May 20, 2026: Referred, City Council. The matter was Referred to Committee.
- Sep 22, 2026: Recommended to Pass, Committee on Finance. The matter was recommended to Pass by controlling legislative body.
- Sep 22, 2026: Substituted, Committee on Finance. The matter was substituted in Committee.
- Sep 25, 2026: Deferred and Published, City Council. On request of Alderperson Dowell and Alderperson _______, the matter was Deferred and Published.
- Sep 29, 2026: Passed, City Council (46 yea, 3 nay), at the City Council meeting. On motion of Alderperson Dowell, and unsuccessful motion to reconsider by Alderperson Mitchell, the matter was Passed.
- Sep 29, 2026: Signed by Mayor, City Council. The matter was Signed by the Mayor.
Documents
- SO2026-0025407 C.L..pdf (Committee Letter)
- O2026-0025407 EDS_Redacted.pdf (EDS)
- SO2026-0025407 Ex A 3rd Amendment to Concession Agreement.pdf (Exhibits)
- SO2026-0025407 Ex B-1 Reaffirmation Certificate - Chicago.pdf (Exhibits)
- SO2026-0025407 Ex B-2 Reaffirmation Certificate - Stonepeak.pdf (Exhibits)
- O2026-0025407 Ordinance.pdf (Legislation)
- SO2026-0025407 Signed by Mayor.pdf (Legislation)
- SO2026-0025407 Substitute Ordinance.pdf (Legislation)
- O2026-0025407 Mayoral Letter.pdf (Miscellaneous)
Lobbying and money
Computed links; money near a vote is not evidence that it influenced the vote.
Who lobbied on it
- Chicago Parking Meters, LLC: PASS LEGISLATION THAT PERTAINS TO CHICAGO PARKING METERS, LLC PENDING IN CITY COUNCIL (2 filings, Apr 1, 2026 to Sep 30, 2026; Paul Lee; matched by client named)
- Chicago Parking Meters, LLC: PARKING METERS TRANSACTION (2 filings, Apr 1, 2026 to Sep 30, 2026; John Dunn; matched by client named)
- Chicago Parking Meters, LLC: TRANSFER OF CPM CONCESSION AGREEMENT (1 filing, Jul 1, 2026 to Sep 30, 2026; Dennis Pedrelli; matched by client named)
- Chicago Parking Meters, LLC: MATTERS RELATED TO CONCESSION AGREEMENT (3 filings, Oct 1, 2023 to Sep 30, 2026; Dennis Pedrelli, Richard Ingram; matched by client named)
- Chicago Parking Meters, LLC: PARKING METER CONCESSION REQUIREMENTS (1 filing, Apr 1, 2026 to Jun 30, 2026; Kevin O'Hara; matched by client named)
- Chicago Parking Meters LLC: PARKING METER CHANGE OF OWNERSHIP (2 filings, Apr 1, 2026 to Sep 30, 2026; Patrick Carey; matched by client named)
- Chicago Parking Meters, LLC: INFO ON CITY PARKING METERS TRANSFER ORDINANCE (1 filing, Jul 1, 2026 to Sep 30, 2026; Djavan Conway; matched by client named)
- Stonepeak: SUPPORT ORDINANCE TO APPROVE THE TRANSFER OF OWNERSHIP OF THE PARKING METERS (4 filings, Apr 1, 2026 to Sep 30, 2026; Timothy Dart; matched by semantic embedding)
- Stonepeak: PARKING METER CONCESSION TRANSFER (1 filing, Apr 1, 2026 to Jun 30, 2026; Michael Alvarez; matched by semantic embedding)
- Stonepeak: ADVOCATE FOR TRANSFER OF PARKING METER CONCESSION (1 filing, Jul 1, 2026 to Sep 30, 2026; Michael Alvarez; matched by semantic embedding)
Alderpersons who received money from these interests
| Member | Amount | From |
|---|---|---|
| Desmon C. Yancy | $6,500 | John Dunn (lobbyist for Chicago Parking Meters, LLC); Patrick Carey (lobbyist for Chicago Parking Meters, LLC); Michael Alvarez (lobbyist for Stonepeak) |
| Jeylú B. Gutiérrez | $5,500 | Patrick Carey (lobbyist for Chicago Parking Meters, LLC); John Dunn (lobbyist for Chicago Parking Meters, LLC); Michael Alvarez (lobbyist for Stonepeak) |
| Daniel La Spata | $4,500 | Michael Alvarez (lobbyist for Stonepeak); Patrick Carey (lobbyist for Chicago Parking Meters, LLC); John Dunn (lobbyist for Chicago Parking Meters, LLC) |
| Nicole T. Lee | $4,500 | Michael Alvarez (lobbyist for Stonepeak); John Dunn (lobbyist for Chicago Parking Meters, LLC); Patrick Carey (lobbyist for Chicago Parking Meters, LLC) |
| Julia M. Ramirez | $4,500 | Michael Alvarez (lobbyist for Stonepeak); John Dunn (lobbyist for Chicago Parking Meters, LLC); Patrick Carey (lobbyist for Chicago Parking Meters, LLC) |
| Felix Cardona Jr. | $4,500 | Michael Alvarez (lobbyist for Stonepeak); Patrick Carey (lobbyist for Chicago Parking Meters, LLC); John Dunn (lobbyist for Chicago Parking Meters, LLC) |
| Scott Waguespack | $4,500 | Michael Alvarez (lobbyist for Stonepeak); Patrick Carey (lobbyist for Chicago Parking Meters, LLC); John Dunn (lobbyist for Chicago Parking Meters, LLC) |
| Anthony J. Quezada | $4,500 | Michael Alvarez (lobbyist for Stonepeak); Patrick Carey (lobbyist for Chicago Parking Meters, LLC); John Dunn (lobbyist for Chicago Parking Meters, LLC) |
| Emma Mitts | $4,500 | Michael Alvarez (lobbyist for Stonepeak); John Dunn (lobbyist for Chicago Parking Meters, LLC); Patrick Carey (lobbyist for Chicago Parking Meters, LLC) |
| Brendan Reilly | $4,500 | Michael Alvarez (lobbyist for Stonepeak); John Dunn (lobbyist for Chicago Parking Meters, LLC); Patrick Carey (lobbyist for Chicago Parking Meters, LLC) |
| Matthew J. Martin | $4,500 | Michael Alvarez (lobbyist for Stonepeak); Patrick Carey (lobbyist for Chicago Parking Meters, LLC); John Dunn (lobbyist for Chicago Parking Meters, LLC) |
| Debra L. Silverstein | $4,500 | Michael Alvarez (lobbyist for Stonepeak); Patrick Carey (lobbyist for Chicago Parking Meters, LLC); John Dunn (lobbyist for Chicago Parking Meters, LLC) |
| Pat Dowell | $3,000 | Patrick Carey (lobbyist for Chicago Parking Meters, LLC); John Dunn (lobbyist for Chicago Parking Meters, LLC) |
| Lamont J. Robinson | $3,000 | Patrick Carey (lobbyist for Chicago Parking Meters, LLC); John Dunn (lobbyist for Chicago Parking Meters, LLC) |
| Gregory I. Mitchell | $3,000 | Patrick Carey (lobbyist for Chicago Parking Meters, LLC); John Dunn (lobbyist for Chicago Parking Meters, LLC) |
| Michelle A. Harris | $3,000 | Patrick Carey (lobbyist for Chicago Parking Meters, LLC); John Dunn (lobbyist for Chicago Parking Meters, LLC) |
| Stephanie D. Coleman | $3,000 | John Dunn (lobbyist for Chicago Parking Meters, LLC); Patrick Carey (lobbyist for Chicago Parking Meters, LLC) |
| Matthew J. O'Shea | $3,000 | Patrick Carey (lobbyist for Chicago Parking Meters, LLC); John Dunn (lobbyist for Chicago Parking Meters, LLC) |
| Ronnie L. Mosley | $3,000 | Patrick Carey (lobbyist for Chicago Parking Meters, LLC); John Dunn (lobbyist for Chicago Parking Meters, LLC) |
| Michael D. Rodriguez | $3,000 | John Dunn (lobbyist for Chicago Parking Meters, LLC); Patrick Carey (lobbyist for Chicago Parking Meters, LLC) |
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