Chicago aldermen today gave the preliminary go-ahead to a plan to earmark $55 million in special tax district funds to help pay for a new hotel next to McCormick Place.
The City Council Finance Committee agreed to set aside the tax-increment financing revenue for the development of a 1,200-room Marriott hotel that is to be built along with a new arena that will host DePaul University basketball games and other events near the convention center.
Interesting. Stay tuned, this drama continues to evolve.
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