The Chicago City Council would receive 30 days to review any future deals Mayor Richard Daley reaches to privatize city assets for more than $100 million under an ordinance introduced last week by Alderman Tom Allen.

The proposal comes as the city’s deal to lease its parking meter system to a private consortium for $1.1 billion has come under sharp criticism because the private managers failed to provide the resources needed to update or fix broken meters in a timely manner, while rates have quadrupled in some areas.

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