Committee for Change: Tom Courtney Involved in Lawsuit Concerning City of Chicago Parking Meter Deal

CHICAGO, Jan. 12, 2011 /PRNewswire/ -- Tom Courtney, a candidate for 27th Ward Alderman, is one of the attorneys representing a City of Chicago resident in a lawsuit against the financial adviser who supported the city's $1.15 billion parking meter contract.

Filed by attorney John Xydakis in the Circuit Court of Cook County, the lawsuit against William Blair & Co. states that the company failed to consider whether the 75-year deal signed in December 2008 was financially beneficial for the City of Chicago. The city's 36,000-parking-meter system was worth far more than $1.15 billion, according to the lawsuit. The deal's lessee, Chicago Parking Meters LLC, also is listed on the complaint.

About The Committee for Change:

The Committee for Change in the 27th Ward of Chicago was launched in July 2010 to encourage positive change. The not-for-profit corporation and political action committee is committed to representing the best interests of residents in Chicago's 27th Ward. The campaign has put together several ideas and plans to continue to develop innovative solutions to improve the City of Chicago.

SOURCE Committee for Change