(Chicago, IL) – February 8, 2011. Chicago mayoral candidate Miguel del Valle today claimed that a loophole exists in Chicago’s ethics ordinance which would enable the city to reopen Chicago’s 75-year parking meter contract with the Morgan Stanley investment fund, Chicago Parking Meters, LLC and he called on Illinois Attorney General Lisa Madigan to reopen her office’s investigation of the deal.
Del Valle says, according to the City’s ethics ordinance, if Morgan Stanley did not register any individuals who worked on the contract as official lobbyists, then the City could void the contract. The agreement does not list any registered lobbyists.
Del Valle, at a press conference at his West Town campaign headquarters, pointed to a June 2009 Chicago Reader article in which Ben Joravsky says that the financial advisers employed by the City to prepare the contract were also on the payroll of the winning bidder, Morgan Stanley.
“The possibility that this ordinance has been violated opens an avenue for us to revisit a contract which forces Chicagoans to pay Morgan Stanley and its partners up to $11.6 billion over 75 years to park in our city,” del Valle said.
Meanwhile, the Del Valle campaign wants Madigan to take a second look at the controversial agreement signed by Mayor Richard Daley.
“We faxed a letter and we called,” said Del Valle campaign spokesperson Alejandra Moran.
Moran, however, sidestepped the question whether Madigan’s office had responded to Del Valle.
If Madigan does respond, it would likely be on or around February 23, 2011.