Yesterday the Chicago City Council unanimously passed an ordinance authorizing Mayor Daley to sign the standard International Olympic Committee Host City contract, which commits taxpayers to absorb any deficits should Chicago be awarded the 2016 Summer Olympics. Passage of this ordinance was the last speed bump in Chicago's bid against Tokyo, Madrid and Rio de Janero for the games.
Even the non-partisan and often critical Civic Federation of Chicago issued an analysis right before the city council vote which concludes that the bid by the City of Chicago provides fair and reasonable protections to taxpayers thanks to reasonable budget projections in a professionally prepared plan. This is good news for those construction businesses which will get the chance to bid on billions of dollars of new construction in the city, should Chicago be awarded the 2016 Games when the announcement is made next month.
Even the non-partisan and often critical Civic Federation of Chicago issued an analysis right before the city council vote which concludes that the bid by the City of Chicago provides fair and reasonable protections to taxpayers thanks to reasonable budget projections in a professionally prepared plan. This is good news for those construction businesses which will get the chance to bid on billions of dollars of new construction in the city, should Chicago be awarded the 2016 Games when the announcement is made next month.
