Chicago drivers will pay more to park

WLS-TV in Chicago reports that the cost of parking on the streets of Chicago is going to increase in 2010:

In the span of just one year, the price to park at a downtown meter will have gone up more than 41 percent…

Beginning January 4th, rates at meters in the Loop will go up 75 cents, to $4.25 for an hour.

If you’re outside the Loop but park between North Avenue, Halsted and Roosevelt Road, you’ll pay an extra 50 cents, bringing the hourly price to park to $2.50.

Rates throughout the rest of the city will increase a quarter.

The Mayor and City Council agreed to the annual rate hikes when they signed over control of the parking meters to a private firm in exchange for just under $1.2 billion in upfront cash.

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