Press Detail

City taps line of credit to operate, maintain Millenium Park

Posted on November 17, 2005

Chicago Sun-Times

This article describes how City Hall will use a $200 million line of credit, authorized three years ago to cover late sales tax payments from the State of Illinois, to finance operations and maintenance costs at Millennium Park. It cites the Civic Federation's deep concern that the City is borrowing to fund operating costs, and that last year the City added $100 million in new programs instead of using revenue to pay for the Park.