A Chicago alderman says the decision by Olympic planners to conceal the need to sign an open-ended guarantee from local taxpayers has poisoned the planners’ relationship with the City Council.
A Chicago alderman says the decision by Olympic planners to conceal the need to sign an open-ended guarantee from local taxpayers has poisoned the planners’ relationship with the City Council.
Chicago 2016 chairman Pat Ryan has said he knew several weeks ago the International Olympic Committee would insist that Chicago match the full-government guarantees pledged by rival cities. Ryan kept that knowledge to himself until Mayor Richard Daley made the pledge to IOC members meeting in Switzerland.
Alderman Toni Preckwinkle, whose ward includes the proposed Olympic Village, said Wednesday Ryan and Daley believe it’s better to apologize than ask permission.
Ryan said he needed up to 60 days to line up the $1 billion worth of private insurance policies needed to shield taxpayers from any risk beyond the $500 million the City Council has already pledged.
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