Know about Chicago’s Billions in Long Term Leases?
Here’s a good bit of information from the Civic Federation about Chicago’s long term asset leases, and what has happened to the money so far. They highlighted the following:
- The Chicago Skyway (2004) – A 99-year lease with Cintra-Macquarie with a transaction value of $1.83 billion.
- Downtown Parking Garages (2006) – A 99-year lease with Morgan Stanley. This transaction was also with the Chicago Park District. The total value of the transaction is $563 million.
- Chicago Parking Meters (2009) – A 99-year lease with Morgan Stanley with a transaction value of $1.15 billion.
Combined, these three major long term asset leases are worth over $3.5 billion. What has happened to this money?
Find out more here. Check out the city’s website too.
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