City Council approves Bally's plan for River West casino

, despite complaints from some critics that the project was rushed through City Council, and that the projected $200 million in annual tax revenue the project is estimated to bring to the city amounts to nothing more than"fuzzy math."

But Ald. Tom Tunney , who chaired the Special Casino Committee that was formed to review the mayor's casino choice, said he is confident aldermen will be able to work together to address those issues. Ervin noted that the city has $1 billion in pension obligations next year alone, and that number will only grow in the coming years.

Bally's plans to open a temporary casino in the landmark Medinah Temple building in River North in the second quarter of 2023, with the permanent casino in River West expected to open in the first quarter of 2026. "We need more time to analyze this. We need more time to get the questions fully answered to vet this proposal, and see if we can do better, because I think we can," said Ald. Brian Hopkins, , whose ward neighbors the 27th Ward, where the permanent casino would be built.

Reilly said his opposition is not simply based on concerns for his ward, but for the city as a whole, echoing Hopkins that aldermen should be given more time to review the Bally's plan before voting.In particular, Reilly raised doubts about the estimated $200 million in tax revenue the casino is expected to generate for the city's woefully underfunded police and fire pension systems, calling those estimates"fuzzy math."Ald.

In addition to the expected tax revenue for the city's pensions, the project also is expected to be a boon for the city's economy, by bringing in new tourism revenue, while creating an estimated 3,000 construction jobs and 3,000 permanent jobs at the proposed casino resort, which would include the casino, hotel, and more. Bally's has promised 60% minority hiring.

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.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Casino for Chicago’s River West wins City Council approval over objectionsThe vote, 30 years in the making, came less than three weeks after Mayor Lightfoot's named her casino pick. Horrible location. Let's start with making the red and blue lines not look like homeless shelters.
Source: ChicagoBreaking - 🏆 521. / 51 Read more »

Cleveland City Council passes law to increase fines on off-road vehiclesThe passed legislation comes two days after Operation 'Wheels Down', which resulted in 15 felony arrests, 30 citations and 15 confiscated vehicles. These kids were raised on a paint chip diet..
Source: cleveland19news - 🏆 70. / 68 Read more »

Cleveland City Council legislation urges FirstEnergy to give up naming rights to Browns stadiumThe councilperson said FirstEnergy has failed to acknowledge its criminal behavior by continuing to market itself using the public’s taxpayer-funded stadium. Will council ask the owners to refund money that FE already paid them?
Source: cleveland19news - 🏆 70. / 68 Read more »

San Diego City Council approves measure giving Mayor Gloria hiring power -SAN DIEGO (KUSI) – The Democrat led San Diego City Council is now giving Mayor Todd Gloria authority over who is hired by the City of San Diego. Historically, the Mayor does not get oversight over the hiring process, due to fears of corruption. Supporters of the legislation say the measure will speed up the hiring process, and allow the... ToddGloria ToddGloria One party rule. Hmmm, that sounds familiar. Oh yeah, communism. ToddGloria This city will never be the same
Source: KUSINews - 🏆 241. / 63 Read more »

Diagonal Plaza redevelopment site and use review OK’d by Boulder City CouncilBoulder has for years been considering what to do with the approximately 9-acre site on the western end of the nearly 60-year-old shopping center. Cool do something that makes it even more dangerous to drive.
Source: denverpost - 🏆 13. / 72 Read more »