In a turn about that came as no surprise to the North Side Greens and other Chicagoans, Mayor Daley agreed to sign a document making the taxpayers of the City of Chicago 100% responsible for any cost overruns or shortfalls resulting from the 2016 Olympics.
The City Council is now going through the motions, expressing shock and outrage, but a little bird told the North Side Greens that the City Council had voted to authorize the guarantee before Daley left for Switzerland.
The North Side Greens had warned in April that Olympic cost overruns were likely to reach $18.5 billion. Daley's signature guarantees that the City's property owners will be paying an Olympic assessment for at least 30 years.
