Press Detail

City finds park cash in its bus shelters

Posted on November 16, 2005

Chicago Tribune

This article reports that the City of Chicago will use revenues from a street furniture contract to pay for operating expenses at Millennium Park and repay a loan it has taken out to fund those costs to date. This plan replaces an earlier proposal that would have established a Special Service Area and property tax in the downtown business district to pay for the Park. The article notes that the Civic Federation will reserve judgment on the plan pending further details, but it cites the Federation's disapproval of the borrowing that has already taken place to pay for the Park's operating expenses and the City’s lack of transparency regarding the borrowing scheme.