Of course the city of Chicago can do whatever they want and they aren't known to make the best fiscal decisions, but if I were a citizen of Chicago I know I'd be livid about this particular one. The city has authorized giving The Obama Foundation around 20 acres of prime real estate near Chicago University for $10. It's going to be the location for Obama's presidential library. Keep in mind, this was an asset on the books for the citizens of Chicago but politicians are giving it away; well at least tying it up for 99 years. The city is looking towards economic growth from the library but knowing how these people operate, as a citizen I'd demand a thorough investigation as to where they got their revenue projections and jobs predictions.
There's no better place than Chicago for this presidential library and the location they picked would be prime for getting attendance, but my problem is giving away the land. It's a 99 year lease for $10, but who knows what will be happening in a century. Chicago will probably go through a bankruptcy by then and they won't have the land asset to help restructure their debt. It would be tied up in a lease and the entire time they wouldn't get a financial return from the land itself. Why in the world didn't they at least charge them $5 million for a 99 year lease? Why do the throw away money so easily? I guess because it's not theirs and they won't be around to face the consequences of their bad decisions. .
Democrats are perfectly fine with what the city is going to do. I'm sure they're concerned that if they don't cut a deal, Obama might take the library someplace else but it would be a horrific political move on his part. Library visitation would be minimal anyplace else such as in Hawaii. This is leverage the City of Chicago had in the negotiations but it appears to have been squandered.
Negotiators for Obama are basically like Amazon cutting a deal to locate their business operations. Business is business. But for me, double-standards are my pet peeve. I think when they're deployed it leads to terrible consequences. What if the city of New York gave the Trump Foundation 20 acres near Central Park for $10? Even if all the factors were the same as far as economic value for the city, New Yorkers would be livid because it's Donald Trump. I don't care who the president is, if he or she were a Republican, these cities wouldn't cut a deal. This is a double standard. Thus, my issue with the whole thing.
There's no better place than Chicago for this presidential library and the location they picked would be prime for getting attendance, but my problem is giving away the land. It's a 99 year lease for $10, but who knows what will be happening in a century. Chicago will probably go through a bankruptcy by then and they won't have the land asset to help restructure their debt. It would be tied up in a lease and the entire time they wouldn't get a financial return from the land itself. Why in the world didn't they at least charge them $5 million for a 99 year lease? Why do the throw away money so easily? I guess because it's not theirs and they won't be around to face the consequences of their bad decisions. .
Democrats are perfectly fine with what the city is going to do. I'm sure they're concerned that if they don't cut a deal, Obama might take the library someplace else but it would be a horrific political move on his part. Library visitation would be minimal anyplace else such as in Hawaii. This is leverage the City of Chicago had in the negotiations but it appears to have been squandered.
Negotiators for Obama are basically like Amazon cutting a deal to locate their business operations. Business is business. But for me, double-standards are my pet peeve. I think when they're deployed it leads to terrible consequences. What if the city of New York gave the Trump Foundation 20 acres near Central Park for $10? Even if all the factors were the same as far as economic value for the city, New Yorkers would be livid because it's Donald Trump. I don't care who the president is, if he or she were a Republican, these cities wouldn't cut a deal. This is a double standard. Thus, my issue with the whole thing.
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