City Council deadline to accept or reject parking meter deal extended until Sept. 30

The City Council now has until Sept. 30 to either approve a New York investment firm’s $2.53 billion bid to acquire Chicago parking meters, or risk a lawsuit by the current owner that has more than recouped its initial investment with 57 years remaining on the deal. Finance Committee Chair Pat Dowell (3rd) told her colleagues late Wednesday she was informed that the revised July 24 deadline had been extended for nine weeks by Mark Rotatori, a partner at Jones Day, the law firm retained by the…