Following the money | Bleader

Thursday, March 12, 2009

Following the money

Posted By on 03.12.09 at 01:57 PM

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Chicago 2016: We'd like another $100 million in insurance from the state on top of the $150 million already promised. Not that we anticipate needing it. Pat Quinn: Sure.

If worse comes to worst, consider the possibility of living in a van down by the TIF-financed riverwalk. We've certainly paid enough for it: "The $22 million price tag for this phase of the project, financed through the Central Loop tax increment financing district, increased by several hundred thousand dollars from the contract bid because of unanticipated construction costs, said CDOT spokesman Brian Steele. The bid itself was roughly double the city's original estimate of $10 million to $12 million in 2002."

More TIF dough: $6 million to Miller-Coors. That's not living the high life. Then again, it's better than $1.4 million for a bunch of empty lots.

How to weather the downturn: sigh.

CTA: We're broke.

CPS: We're more broke than we've ever been.

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