Flores Moves Forward With Olympic Cap Ordinance
By Kevin Robinson in News on Jun 30, 2009 3:40PM
1st Ward Alderman Manny Flores is moving forward with his plans to introduce an ordinance in the City Council to limit the city's Olympic liabilities. "While I remain a strong supporter of hosting the Olympic Games here at home and believe that the Games can provide an economic boost to our city," Flores said in a press release. "We must pursue the Olympic bid in a financially responsible and transparent manner." Flores would like to restrict the city's liability to $500,000,000 should the city win the bid to host the 2016 Summer Games. Mayor Daley signed a contract with the International Olympic Committee earlier this month in Switzerland, leaving taxpayers on the hook for unlimited damages.
The entire text of the proposed ordinance, after the jump.