Thursday, June 18, 2009

Daley Puts Taxpayers on the Hook for 2016?

The big news last night from Switzerland, where the Chicago 2016 Olympic Bid Team is meeting with IOC members this week, is that Mayor Daley has agreed to sign a document which makes the city completely liable for any costs overruns associated with the games.

This is an alarming change, as Daley has repetitively said that Chicago would not need to sign this document and that taxpayers weren't going to be put on the hook for overrun costs.

There are already a ton of negative opinion pieces and posts out there in regards to this development (we personal found Greg Hinz's at Chicago Business the best) . Daley and the 2016 staff are also fighting back trying to explain why he agreed to this and what it means. Regardless of what this's an interesting development in Chicago's attempts to host the 2016 games.

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