Posted on 08/19/2022 1:14:07 PM PDT by DUMBGRUNT
It doesn’t have the money it promised the city it would raise under a May 2019 master agreement for the Jackson Park property.
The Obama Foundation just released its annual report and 990 tax forms for 2021. Together they show that the Obama Presidential Center’s financial foundations are as rickety as its physical ones. The Foundation’s 2020 annual report exhibited some financial candor, estimating that $300 million in annual donations for four straight years would be necessary to meet all future construction and operating costs. The 2021 return revealed that the foundation had raised only $159 million, about 8% less than it raised in 2020. Those dollars must pay for all foundation activities, including payroll, fundraising, public relations, and scholarship and grant programs.
The foundation’s failure to meet these two conditions meant that the 2021 property transfer should never have happened.
ny private developer would have to prove this, especially for a project affecting such a substantial piece of publicly owned park land in the center of a major U.S. city. Construction should be paused until the foundation proves it is complying with the key terms of the master agreement. If we are correct, it should never have broken ground.
(Excerpt) Read more at wsj.com ...
Forget it, Jake. It's Chiraq.
Isn’t ironic that Obama underestimated the revenue required to pay for his commie spending programs.
I think this is hilarious. Six years after the Kenyon left office, there is still no Lie-Barry.
Obama can establish a GoFundMe account.
Or set up a lemonade stand, although that may be beyond his business management skills.
Gee, another deadbeat urban dweller. After all, he was a resident of public housing for eight years, whadda ya expect?
Obama is not a natural born citizen and was never eligible to be President.
We don’t need Presidential libraries anymore. Just have the FBI raid their houses.
Chicago’s Obama Center Is Under Water
That’s nice and I hope it stays this way. Building an outhouse there in his memory would be more than enough.
I guess his library isn’t ‘shovel ready’.
—”Not literally under water. Like totally due to climate change or something.”
Close to it.
Large pumps will be burning electric 24/7 to keep lower levels dry.
They are just across Lake Shore Drive from the lake and not much above it.
“The center, which is scheduled to open in February 2025, is being built in a dangerous place. The water table is high enough to require constant drainage—a peril that will be compounded by major storms off Lake Michigan. An award-winning alternative design on private land west of nearby Washington Park would be less costly and safer to build and would provide far better access to the South Side community that is the center’s target audience.”
Humanity has failed The Light Bearer.
—” there is still no Lie-Barry”
It is not the 0bama library and is not intended to be.
Simply some ugly ass concrete with the 0bama name on it.
Built-in a Chicago park next to the lake.
A nice piece of real estate if you can swing the deal.
I was hoping it was due to sewage.
“We don’t need Presidential libraries anymore...”
Agreed since all Brandon’s is gonna have is Dr Seuss and Curious George books and a couple boxes of crayons.......and a well stocked adult diaper dispenser.
—”Obama can establish a GoFundMe account.”
That sort of activity is for the little people.
Master grifters glom from the taxpayers, under color of law.
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