The Illinois Coalition to Protect the Public Commons, a group that opposes public asset privatization, last week announced its concerns over Chicago Mayor Rahm Emanuel’s proposal to establish an infrastructure trust bank that would leverage private investment in public projects.

The group said it wants to “ensure that the city is not exploited again, as in the recent parking meter fiasco,” referring to the city’s $1.15 billion lease in 2009 of its parking meters that has been criticized over the poor transfer to private operators, skyrocketing rates, and the former mayoral administration’s use of most of the proceeds to balance recent budgets.

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