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The foundation’s most recent all-in estimate is $850 million, foundation spokeswoman Emily Bittner said.
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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He doesn’t live here anymore. Has his MANSIONS IN HAWAII, Martha Vineyards and in DC. Hopefully it collapses in 5 years !!
Expect revisions to the total cost in the future. No way they come close to their number. They had faulty concrete as well as mold in the venting that had to be reworked. Plus it is just ugly – someone should charge them another $200 million just for negative aesthetics.
850 million for that monstrosity. Wow.
What a testament to DEI construction.
At those numbers how will this place ever be self sustaining? What will a ticket price be?
Doesn’t matter the price of a ticket no one will be going there .