'This is a generational opportunity which the city has been working towards for over 30 years,' said Jennie Huang Bennett, the mayor's chief financial officer.
amid ongoing questions from aldermen who had complained the project was being rushed.
However, some aldermen still argued the approval process for the casino is being rushed, and that the City Council should have been given more time to review the plan before voting. Reilly, who has been one of the most vocal opponents of Bally's plan, called the projections of $200 million in annual tax revenue for the city"fuzzy math."
"I don't believe we're going to see $200 million a year in six years from this. I don't believe it. The numbers don't add up," he said."Our hands will be tied six years from now, ladies and gentlemen. We won't have the ability to correct the mistake we're about to make.""I'm not happy about it," said River West resident Peter Joyce."I don't think it will do anything to improve the neighborhood.
But Ald. Walter Burnett, whose ward includes the proposed Bally's site, said he supports the project"100 percent," and said he's not willing to put off a final decision any longer. "The city process may be coming to a close, but the state process is just beginning, and I think the many thousands of residents who are opposed to this are going to make their voices heard at the Gaming Board," he said.
The Chicago Tribune prints its newspapers – and some competitors' newspapers – at the Freedom Center, but its lease at the site runs out in June 2023, with an option to renew for 10 years. But Bally's also holds an option to purchase the site. There are also plans for new pedestrian signals at Chicago Avenue and Halsted Street; Grand Avenue at Halsted Street, Desplaines Street, and Jefferson Street; and Halsted and Superior streets.
The Medinah Temple was built in 1912 for the Masonic Order of the Mystic Shrine on Wabash Avenue – then called Cass Street – between Ontario and Ohio streets. The ornate Moorish revival building originally housed a 4,200-seat auditorium that over the decades featured events such as the annual Shrine Circus, Chicago Symphony Orchestra recordings, concerts featuring A-listers, and live performances of the radio show"A Prairie Home Companion" with Garrison Keillor.
But with the Medinah Temple being right next to the Grand Avenue CTA Red Line stop, neighbors say they worry a casino there will just add to River North crime – which is already seeing a major spike. The parking meter deal came around in December 2008 under Mayor Richard M. Daley. The city leased its parking meters to Chicago Parking Meters LLC in a 75-year deal for about $1.16 billion in a move that has been controversial ever since.
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