The Civic Federation and our consultant L.E.K. Consulting testified yesterday before the Finance Committee of the Chicago City Council about our review of the financial aspects of the Chicago 2016 Olympic Bid. The Federation delivered its full 90-page report and 22-page narrative summary to all fifty aldermen on August 26, 2009. On June 30, 2009, the Chicago City Council had asked the Civic…
CHICAGO) The Civic Federation, after a six-week review of the Chicago 2016 Olympic Bid, has determined that the operating budget provides adequate protection for taxpayers, but the development of the Olympic Village exposes the City of Chicago to continuing real estate risks that must be managed. The Civic Federation is a 115 year-old independent, non-partisan government research organization…
The Civic Federation and L.E.K. Consulting's review of the Chicago 2016 Olympic Bid has determined that the operating budget provides adequate protection for taxpayers, but the development of the Olympic Village exposes the City of Chicago to continuing real estate risks that must be managed. Click here to read the full 90-page Chicago 2016 Olympic Bid Review.
On Monday, August 17, 2009, Governor Pat Quinn signed an amended version of Senate Bill 189 into law. Senate Bill 189 is now Public Act 096-0542 and will take effect January 1, 2010. The legislation amends various acts concerning governmental transparency including the Illinois Open Meetings Act, Freedom of Information Act, and Attorney General Act. The reforms will make it easier for…
In this article about a meeting between the Chicago 2016 Olympic bid committee and 1st Ward Alderman Manny Flores and citizens of that ward, Flores references the Civic Federation’s work on an independent report on the financial aspects of the Olympic bid.
This article mentions the Civic Federation’s commitment to analyze the financial aspects of the Chicago 2016 Olympic bid through London-based L.E.K Consulting.
On his blog, Greg Hinz writes about the Civic Federation’s hiring of L.E.K. Consulting, a British-based research and consulting firm, to conduct an independent assessment of the 2016 Chicago Olympic bid.
In order to make its capital selection process more transparent in FY2009, the Chicago Transit Authority (CTA) has revised the way in which is selects and prioritizes capital projects. CTA’s revised capital selection process includes an additional layer of accountability with the creation of a new Capital Governance Board consisting of five of the CTA’s executive vice presidents, its budget…
The Civic Federation supports the $492.1 million City Colleges of Chicago FY2010 budget because it is a prudent spending plan that both holds the District’s property tax levy flat over the next two years and compensates for uncertainties in State funding by proposing alternative plans to support core academic programs. The Federation is concerned that City Colleges is predicting revenue…
The Chicago City Council recently passed a resolution requesting that the Chicago 2016 Olympic bid’s finances undergo analysis by the Civic Federation. The resolution is a response to Mayor Daley’s announcement that he would sign an unlimited financial guarantee of the Olympic Games.
