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As the city and its police union near the two-year mark in contract negotiations, Mayor Richard Daley on Saturday said a proposal to allow private security guards to write tickets is worth exploring.
Only Chicago police officers can issue citations, but two far South Side aldermen want armed security guards who patrol business districts in their wards to have that authority as well.
HARTFORD, CT - December 2, 2008 - LAZ Parking, LLC is pleased to announce that a consortium led by Morgan Stanley's infrastructure investment group has been selected by the City of Chicago as the preferred bidder for the 75-year concession of the Chicago Metered Parking System. LAZ Parking, headquartered in Hartford, will be responsible for the operation of the system.
The Metered Parking System has up to 45,000 parking meters, together with surface parking lots, throughout downtown Chicago. The City retains all power and authority to set rates and periods of stay and operation for all of the parking meters in the System. The acquisition of the concession is subject to the approval of the Chicago City Council and the Board of Commissioners of the Park District and financial close is expected to occur in the first quarter of 2009.
In the fall of 2007, LAZ Parking formed a partnership with Europe's top parking operator, VINCI Park. This transaction represented a mutual growth strategy by both parking leaders. VINCI Park has built an extremely successful network of parking operations in countries throughout Western and Eastern Europe and Canada. VINCI Park, headquartered in Paris, France currently operates over 863,000 parking spaces in 300 cities, in 14 countries. This joint venture between LAZ and VINCI enables LAZ Parking to support VINCI Park's growth in the United States by giving it the benefit of its top-quality management, and a successful track record of significant growth.