FOR IMMEDIATE RELEASE Contact: Paul W. Davis
May 15, 2009 First Trace Communications
African-American Firms Seek a Piece of Parking Meter Business
Highly qualified African American-owned professional services companies are actively seeking to get their piece of a $1.2 billion business pie granted to LAZ Parking, the firm hired to manage the City of
Last December, the City signed a $1.2 billion, 75-year lease with Chicago Parking Meters, LLC, to manage
However, to date, LAZ’s efforts to meet the City’s minority- and women-participation requirements of 25 percent and 5 percent, respectively, have been lagging. LAZ assumed management of the City’s parking meter system in February and at present has not contracted with a single African-American owned firm.
The City’s minority participation requirement of the LAZ agreement will be examined during a public hearing conducted by the City Council Finance Committee headed by Ald. Ed Burke (D-14th), Monday, May 18th at 11 a.m. The hearing will also consider a rash of complaints related to broken parking meters, meters that overcharge and increased parking meter fees.
A spokesman for an African-American and female-owned owned company, Innovative Parking Solutions, attorney Melvin Caldwell, said the firm made a presentation to LAZ in February and desires to have “a fair opportunity to do business in the marketplace.”
“Innovative Parking Solutions is the only certified African-American-owned parking management company in
Innovative Parking Solutions currently manages the entire parking system in