Taxpayers May Be Stuck for Millions in Obama Center Contractor Fees – Chicago Contrarian

"The City of Chicago approved the Obama Center under the requirement the foundation would raise a $470 million backup fund to pay for expenses that slipped under the radar so taxpayers would not have to pony. The fund is part of the 99-year deal to use the 19.3-acre Jackson Park in exchange for a token payment of $10. But so far, that $470 million fund has only been bankrolled to the tune of a mere $1 million."
4 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
Free at Last
2 months ago

If you thought the taxpayers would not get stuck with the bill, you really shouldn’t be voting. You are not smart enough.

Joseph A Murzanski
2 months ago

And Valerie Jarrett was paid in excess of $700,000 annually to manage this project while subcontactors are owed millions and face financial ruin. Let the party begin!

David F
2 months ago

We all new in the end we would be needing vaseline on this one.

Isn’t Illinois Fun?
2 months ago

One way to fund remaining payments to contractors with valid outstanding invoices would be for the center to redirect the annual $740,000 Valerie Jarrett salary to the contractors. Obama could self fund as well, he now has a vast fortune. Will either of these two things happen? Ha!

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check what you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE