True-up / yr Quarterly true-up = 25% x $386.7M x (1 - SISP), paid by the City to CPM whenever the system falls short of its baseline revenue. The simulation targets keeping this near $0 by replacing removed revenue with relocated meters.?
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System in Service % System in Service % = Actual Revenue / $386.7M baseline (SRSV). Below 90% is a caution; below 80% annual average lets CPM invoke a Reserved Powers Adverse Action and seek compensation beyond the quarterly settlement.?
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Active Spaces Contract requires 30,000–45,000 active concession spaces at all times. Dropping below 30,000 triggers a Reserved Powers Adverse Action. Going above 45,000 requires CPM consent.?
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Aggregate Revenue The contract requires the system to generate its $386.7M baseline revenue (the Settlement System Revenue Value, or SRSV). Any annual shortfall triggers a quarterly payment from the City to CPM: 25% × $386.7M × (1 − SISP).?
System in Service >= 80% System in Service % = Actual Revenue / $386.7M baseline. Below 80% annual average triggers CPM's right to seek additional compensation beyond the quarterly settlement.?
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True-up vs $10M budget True-up = 25% x $386.7M x (1 - SISP), paid quarterly by the City to CPM. The $10M budget line is a rough annual ceiling for this simulation. The lower this is, the less revenue the City is forfeiting.?
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$2K / space floor Every active terminal must generate at least $2,000 per space per year or it is reclassified to City-operated Reserve status. The count shown is the number of terminals currently below this threshold.?
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Scenario Controls
Rate increase +0%
Remove worst performers 0 sp
Residential destination share 0%
Job density weight
Ped street proximity
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Relocation scope
Filters
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$7 high
$4.75 mid
$2.50 low
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Stickers / (physical cap − meter spaces) Parking Permit Zones 2026
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Parking demand proxy
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LODES WAC 2023 - workplace jobs by tract Cook County - Census TIGER boundaries
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Relocate Terminal
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Utilization model
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Calculated utilization: -
Model: base_util(rate) x land_use x density. Override to plug in real data when available.
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1 / 5
Chicago Meter Relocation Simulator
Chicago's parking meters are operated by Chicago Parking Meters, LLC (CPM) under a 75-year concession agreement with the City that lasts until 2083. The City retains the right to relocate meters, but any revenue impact must be compensated through quarterly settlement payments.
This tool lets you simulate relocating meters away from bike and pedestrian infrastructure and Better Streets for Buses corridors to higher-revenue commercial areas, while staying within the contract's financial limits.
2 / 5
Required Space Count
The contract sets hard limits on the number of concession parking spaces CPM can operate:
30,000 minimum: Dropping below triggers a Reserved Powers Adverse Action, giving CPM the right to seek additional compensation beyond the quarterly settlement.
45,000 maximum: Requires CPM's written consent to exceed.
3 / 5
System in Service Percentage (SISP)
SISP measures how the system's actual revenue compares to the full-utilization baseline established at the start of the contract in 2008.
SISP = Actual System Revenue / Settlement System Revenue Value
The Settlement System Revenue Value (assessed value of parking assets) is approximately $386.7M, representing the theoretical revenue of all concession spaces at full utilization.
If the annual average SISP falls below 80%, CPM can invoke a Reserved Powers Adverse Action (financial penalty) and seek compensation beyond the quarterly true-up.
4 / 5
Quarterly True-Up Payment
Each quarter, the City calculates whether it owes CPM a settlement payment based on SISP:
Quarterly True-Up = 25% x $386.7M x (1 - SISP)
If SISP is below 100%, the City pays CPM a true-up. The contract requires the system to maintain baseline revenue of $386.7M.
The goal of any scenario in this simulator is to keep the annual true-up at or near $0 — meaning relocated meters generate at least as much revenue as the spaces they replaced.
5 / 5
$2,000 / Space Revenue Floor
Any new spaces added on blocks that did not previously have meters must generate at least $2,000 per space per year in each of the first two Reporting Years (March 1 - February 28).
If a block falls short in both years, the City must reclassify those spaces back to Reserve status (City-operated), with CPM earning only a device rental fee.