Aaron Renn over at the Urbanophile tells a tale of privatization gone wrong in Chicago – and what a harrowing tale it is.
The gist of it is that the city of Chicago was in such a rush to privatize the management of its parking meters and garages that it signed off on a deal that, among other things, promises “that the city would not allow anyone to build a garage that was open to the public in the area where the leased garages are.” Which, as Renn points out, has the same basic effect as rezoning would.
Renn’s post is great reading by itself, but be sure to follow the links he provides for some important background.
One other thing: Renn describes himself as “a staunch defender of privatization done right.” I can get behind that, but I think he and I might differ on how often privatization deals are actually “done right.” I’m guessing I have a much more pessimistic outlook toward privatization than he does – but then again, I live in Florida, where botched privatization deals are as ubiquitous as Indiana license plates in the wintertime.
Place is everything.
Posted on April 18, 2012
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