NYC looks into going private with parking meters

February 25, 2011 4:12:34 PM PST
Next time you drop some change into a parking meter, the money could very well end up in the hands of a private company.

New York City's looking into a lease-ownership deal with a private company that would maintain the city's 50,000 parking meters.

Those meters generate $150 million each year for taxpayers.

Officials say there's no need to worry about skyrocketing parking fees, because they would stay under strict city control.

Bids are due March 11.