'Illinois is open for business...' No revenue for pensions. Millions for new basketball stadium.
“Today, with this bill, Illinois is open for business,” said state Sen. Toi Hutchinson (D-Olympia Fields), the chief Senate sponsor.of the $173 million DePaul basketball arena bill.With the failure last night, to pass a bill that would have given Chicago Public Schools another pension holiday, the IL State Legislature ended it Spring Session failing to do anything to provide either the state or Chicago with any new revenue to solve its ongoing pension crisis. But it had no problem finding $173 million to help pay forRahm Emanuel's latest boondoggle, (that's what Sports Illustrated is calling it) a new 10,000-seat basketball arena for DePaul, the nation's largest private Catholic university.
According to Crain's, Rahm is counting on the sale of 22 luxury suites in the arena at $45,000 each per year and