Report: Obama Center Contractors Owed Millions and Safety Net to Spare Taxpayers Not Funded
Taxpayers could be left with a big tab if the Obama Presidential Center experiences financial trouble because its foundation has not yet established a promised $470 million safety net to guard against a public bailout.
Once a grifter, always a grifter.
Taxpayers could be left with a big tab if the Obama Presidential Center experiences financial trouble because its foundation has not yet established a promised $470 million safety net to guard against a public bailout.
That according a Fox News Digital investigation of the center’s finances as Chicago awaits its grand opening on Friday, June 19.
The outlet’s investigation, published Saturday, found that “multiple contractors and subcontractors claiming losses ranging from hundreds of thousands of dollars to millions on the project, with some alleging they remain locked in payment disputes and face financial ruin…”
In an agreement with the city of Chicago, the foundation promised to create the endowment, essentially a reserve of cash, as part of its 99-year sweetheart deal to to control the publicly owned 19.3-acre section of Jackson Park for a one-time payment of just $10.
The foundation had deposited just $1 million into the reserve fund in 2021, but the balance has largely not changed according to public filings, the outlet reported.
So they signed onto a project with a low life grifter and are surprised that they got scammed? Inconceivable!
I think I'll double my contribution of $0 from last year.. Oh hell, I'll TRIPLE it!
If contractors are not paid,they can sue Obama personally and or put a lien on the building.....
Why print letters on a building if they are unreadable? Jumbled, confused, tedius and stupid.