The hearing was called at the behest of 49th Ward alderman Joe Moore and several allies, most of whom had voted for the deal in December but now, as an act of “repentance,” wanted a public airing of details about how it was forged, why the hand-off had gone so poorly, and what the city and its private operators could do about it. But they weren’t the only unhappy campers today: Daley loyalists like 44th Ward alderman Tom Tunney wondered whether the city got a fair price for the meter system and groused about how it’s ended up hurting local businesses.
Best of Chicago voting is live now. Vote for your favorites »
But Burke himself was ready to participate, jumping in repeatedly to help administration officials and financial advisers answer questions. Many of the answers prompted still more questions.
“The city Department of Finance,” Saffold said.
Lanctot, sitting next to Burke, leaned toward his mike. “Alderman, maybe I can provide a little historical perspective,” he said to Moore. “We certainly brought this idea to the city’s attention.” He said the conversations had begun “in 2006 or 2007.”
Alderman Scott Waguespack asked if William Blair had examined the specific terms of similar lease deals overseas.
