Friday, March 29, 2013
Obama Gives $100 Million Loan (Not Grant) for Chicago Riverwalk; Rahm Emanuel Explains This Ain't Like the $25 Million Waste for RiverEdge Mosquito Park in Aurora
The Obama administration announced they are giving the City of Chicago a $100 million low-interest loan to create and transform the Riverwalk along the Chicago River in downtown Chicago.
Mayor Rahm Emanuel, who has been attacked recently by teacher unions as "racist" for closing under-utilized and low-performing schools, says this isn't "some grant" that you see in other communities that is taking money away from schools.
When we asked which communities he was referring to, we learned that one community in particular stood out as being an example of waste, corruption and dumb ideas.
That would be Aurora, Illinois.
Is he referring to the $25 million corrupt RiverEdge Mosquito Park that is funding cronies of Aurora Mayor Tom Weisner?
The so-called park in Aurora is not really a park, but a sloppy attempt at spending millions to create a stage with grass, trees and lights around it.
And, as Rahm and others have asked with laughter "where are people supposed to park for this so-called park in Aurora?"
Meanwhile, the plans for the Riverwalk in Chicago include recreation such as kayaks to water taxis to high-end restaurants that will generate commerce. The plan is to pay back the $100 million loan in 35 years.
In Aurora, after 35 years, with the cost of the park, bonds, interest, maintenance and management, the much smaller park will cost far more than $100 million.
Tom Weisner, the so-called mayor of Aurora, could not be reached for a response.
We must admit that it's not often we agree with Rahm Emanuel, but compared to Tom Weisner and the Chicago Teachers Union, he looks smarter than both of them combined.