Support for LAist comes from
We Explain L.A.
Stay Connected

Share This

This is an archival story that predates current editorial management.

This archival content was written, edited, and published prior to LAist's acquisition by its current owner, Southern California Public Radio ("SCPR"). Content, such as language choice and subject matter, in archival articles therefore may not align with SCPR's current editorial standards. To learn more about those standards and why we make this distinction, please click here.


City to Study Privatizing Parking Meters. Price = $500,000

We need to hear from you.
Today during our spring member drive, put a dollar value on the trustworthy reporting you rely on all year long. The local news you read here every day is crafted for you, but right now, we need your help to keep it going. In these uncertain times, your support is even more important. We can't hold those in power accountable and uplift voices from the community without your partnership. Thank you.

At yesterday's city council meeting, a nearly unanimous vote prompted a half million dollar study on whether the city should sell its parking meters and six city parking garages to help fill massive budget gaps. The one councilman who stood up for common sense was the Northwest Valley's Greig Smith. "We're selling property at the bottom of the market. What a stupid idea," he said. "If we were stockbrokers, we'd be in jail with Bernie Madoff for this kind of scheme. This is foolhardy economics." Will JP Morgan Chase own Los Angeles' meters someday soon? The parking lots in question include Hollywood & Highland complex, Pershing Square and the Cinerama Dome.

Most Read