Beginning on January 1, new parking meter fees will be enacted following City Council approval earlier this year. The new fee rate structure will call for a 50 cent increase in the downtown area, as well as changes in the West Loop including the installation of new parking meters and a rate increase from $2 per hour to $4.50 per hour to align with rates throughout the downtown area.
These increases are designed to reduce "true up" obligations to the parking meter operator. Chicago has a public-private partnership with Chicago Parking Meters to operate and maintain street metered parking pay stations for the City's 36,000 metered parking spaces.
Using a free cellphone app, motorists can access more information on where parking meters are in place and conveniently pay for parking using their smartphone. Parking meter rates were last raised in 2013.