Chicago Aldermen Grill Stonepeak Over $2.53 Billion Meter Bid as ICE Flight Ties Deepen Opposition
Updated
Updated · Chicago Tribune · Jun 25
Chicago Aldermen Grill Stonepeak Over $2.53 Billion Meter Bid as ICE Flight Ties Deepen Opposition
3 articles · Updated · Chicago Tribune · Jun 25
Summary
$2.53 billion was Stonepeak’s bid for Chicago’s parking meter system, and aldermen used a tense no-vote hearing to press the firm over both the sale and its ownership of Omni Air, which has operated ICE deportation flights.
$3.3 billion was the city’s own earlier bid, a figure revealed publicly by Stonepeak after Mayor Brandon Johnson’s lawyers again cited a non-disclosure agreement and refused to discuss details in open session.
Stonepeak offered to waive the confidentiality pact immediately and said it is actively trying to sell Omni, but several aldermen said they remained skeptical; Andre Vasquez said he would not consider backing the deal unless Omni is sold.
22 aldermen had already pledged no votes this month, while the current meter owners warned the council cannot block a sale without exposing Chicago to major legal and financial risk.
The clash underscored how the 2008 75-year privatization still shapes City Hall politics, with Stonepeak acknowledging that anger over the original deal is the top risk to any takeover.