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Morgan Stanley’s Chicago Haul Makes Cities Redo Deals

Chicago’s agreement for a Morgan Stanley partnership to run its parking meters for 75 years, expected to cost drivers $11.6 billion, has Indianapolis, Pittsburgh and Los Angeles rethinking their own deals.

Indianapolis, whose city council plans to vote tonight on a proposal with Xerox Co.’s Affiliated Computer Services, would rather take less money up front in favor of more total fees in its 50-year transaction. It also wants something Chicago didn’t get: exit clauses that let the city end the lease.