CHICAGO — With public ire over the former mayor’s flawed $1.15 billion lease of Chicago’s parking meter system still clouding the local political landscape for public private partnerships, the city is turning to a next-generation model as it eyes private dollars to fund infrastructure and lower the cost of some city services.

Skepticism runs deep in the veins of Chicagoans when discussing the P3 model most familiar to a local crowd — leasing an existing revenue-generating asset to private investors and operators who capture future asset revenues in exchange for a hefty upfront cash payment.

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