We know it’ll cost more to park on major city streets, and lots of minor ones as well. What’s not certain is whether the parking meter lease deal is good one for taxpayers. The mayor and his administration argue that it is; next the city council will have the chance to weigh in. But the whole billion-dollar agreement could be wrapped up as soon as Thursday morning—just three days after city officials first viewed the bids on it. Here’s the timeline of the deal:

Friday, February 8, 2008: The city issues an RFQ inviting firms to bid on leasing the meters. Chief financial officer Paul Volpe says it’s a way “to be innovative in our approach to managing city assets.” Final bids are due December 1.

February-March: City officials review initial application information submitted by potential bidders to determine whether the firms are qualified. The city won’t say how many bidders were rejected, how many were accepted, or how many were involved altogether; that won’t be released until the deal is approved and underway.

Thursday, August 14: Volpe announces that the city faces a $420 million budget deficit. The figure grows to nearly $500 million in the coming weeks as revenues from real estate transfer taxes dry up.