Trial and Mostly Error: Public-Private Partnerships in Chicago

This piece examined the use of public-private partnerships (PPPs) in the City of Chicago. Financial data was collected to analyze the long-term use of proceeds from the long-term lease of the Chicago Skyway Toll Bridge, downtown public parking system, and parking meter network; further data was collected to contextualize private operator performance and the attempted lease of Midway International Airport. Using four case studies, the leases were compared to determine some of the successes and failures encountered by city officials. While the toll bridge and parking meter leases had long drawn public attention, less had been said about the other two privatization efforts. Analysis revealed that management of the reserves associated with each of these four transactions was varied, with some adhering to responsible management more than others. Each also had a unique history that proved these leases continue to have serious consequences for present policymakers. Further, recommendations on improving the PPP lifecycle are offered, from increasing transaction visibility to reduce public concerns to implementing stronger oversight practices in city budgeting to avoid contractual breaches.