WEBVTT

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EDDIE.

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>>YOU'RE HIRED.

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>>THANK

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YOU.

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[LAUGHTER]

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>>NOW TO A LOOK AT WHAT COULD

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BE THE

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CITY'S NEWEST

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SPORTS

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VENUE.

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>>THE CITY

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AND STATE

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SPENDS

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PUBLIC TAX

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DOLLARS NEAR

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MCCORMICK

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PLACE.

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THE

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SUN

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TIME'S

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REPORTS THERE

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THERE IS A PLAN FOR A

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STAUD

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FOR

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DePAUL UNIVERSITIES BASKETBALL

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TEAM TO DOUBLE AS A CONVENTION

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VENUE ALONG WITH TWO NEW

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HOTELS,

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NORTH AND WEST OF McCORMICK

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PLACE.

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THE PROJECT WILL BE FUNDED

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WITH

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125 MILLION IN PUBLIC

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FUNDS.

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THAT'S 55 MILLION IN GIFT

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FUNDS

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AND 75 MILLION IN HOTEL

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TAXES.

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ACCORDING TO SOURCES,

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ANOTHER

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70 MILLION WOULD COME FROM

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DEPAUL.

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JOINING US TO DISCUSS THE MERIT

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U.S.

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OF PUBLICLY FUNDED

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CENTER

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IS ALLEN

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SAN

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DERSON.

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SANDERSON.

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WE INVITED REPRESENTATIVES FROM

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THE CITY,

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DePAUL AND

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THE

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METROPOLITAN EXPO SIGNIFICANCE

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AUTHORITY BUT THEY ALL

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DECLINED.

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WE'RE GLAD YOU DIDN'T.

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THANK YOU FOR COMING

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IN.

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TELL ME, SHOULD TAX

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DOLLARS,

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PUBLIC TAX

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DOLLARS

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BE SPENT TO

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BUILD A

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STADIUM FOR

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DePAUL?

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>>IT'S HARD TO IMAGINE A

01:19.079 --> 01:20.180
BASKETBALL ARENA

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BY ITSELF IS

01:21.281 --> 01:22.683
USED SO INFREQUENTLY,

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MAYBE 10

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OR OR 20

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TIMES A YEAR FOR

01:25.853 --> 01:26.320
GAMES.

01:26.320 --> 01:28.055
THE UNITED CENTER, ON THE OTHER

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HAND, HAS

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BOTH TWO MAIN

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TENANTS,

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BLACKHAWKS AND BULLS

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AND YOU

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THROW IN THE

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CONCERTS AND

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CIRCUSES AND YOU COULD GET

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INTO

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200 NIGHTS A

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YEAR AND THEN IT

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PAYS.

01:41.335 --> 01:42.469
BUT SOLDIER FIELD IS USED

01:42.469 --> 01:45.706
SO

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INFREQUENTLY.

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SO IN SOME WAYS, THERE'S

01:47.641 --> 01:48.175
AN OL

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JOKE ABOUT A GUY

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WHO GETS

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MUGGED

01:51.078 --> 01:52.613
AND RESISTS AND

01:52.613 --> 01:53.480
THEY

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EVENTUALLY

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WRESTLE HIM TO THE

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GROUND AND

01:56.483 --> 01:57.584
TAKE $3 OUT OF HIS POCKET AND

01:57.584 --> 01:58.886
WHY DID YOU PUT UP SUCH A

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FIGHT

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FOR P DOLLARS?

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OHWORKS I THOUGHT YOU WANTED

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THE

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$200 IN MY SHOE.

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I

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THINK THERE'S SOMETHING ELSE

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GOING

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ON.

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IT DOESN'T MAKE ANY SENSE

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WHATSOEVER SO BUILD THIS

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AS A

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BASKETBALL

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ARENA.

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>>THE CITY IS SAYING IT WOULD

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ACTUALLY -- THEY HAVEN'T SAID

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MUCH.

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THEY'RE BEING

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CLOSED MOUTHED

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ABOUT IT.

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BUT IN A RELEASE THEY SAID

02:20.440 --> 02:20.741
THE

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CITY IS LOOKING FOR A

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STATE-OF-THE-ART EVENT

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CENTER.

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, WHICH WOULD

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BE ATTRACT

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CONVENTIONS, TRADE

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SHOWS AND

02:28.916 --> 02:29.616
SPORTING EVENTS.

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SO DOES THIS KIND

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OF

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COMBINATION

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WORK IN AN

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EVENT CENTER?

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>>NOT REALLY.

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IT'S JUST THE VENUES DON'T WORK

02:36.857 --> 02:37.891
IN TERMS OF WHAT

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A CONVENTION

02:39.126 --> 02:40.961
WANTS AND WHAT A

02:40.961 --> 02:41.895
SPORTING EVENT

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WANT.

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THEY DON'T GO TOGETHER WELL AND

02:43.463 --> 02:45.065
THERE HAVE BEEN CITIES THAT

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HAVE

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TRIED IT'S AND

02:47.534 --> 02:49.102
LARGELY

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UNSUCCESSFUL.

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WE THAT TO POSSESS, THE CITY AS

02:51.038 --> 02:52.206
A WHOLE, THE LARGEST

02:52.206 --> 02:54.975
SQUARE

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FOOTAGE, 2 MILLION SQUARE FEET

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OR SOMETHING, FAR MORE THAN

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ANY

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OTHER CITY ALREADY.

02:59.446 --> 03:00.080
>>ONE THING THE CITY

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IS SAYING,

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THOUGH, IT'S KIND OF SELLING IT

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AS A SITE FOR

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CONVENTIONS

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THAT

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ARE TOO

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SMALL FOR McCORMICK

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PLACE BUT TOO

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BIG

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FOR

03:10.457 --> 03:11.959
NAVY

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PIER.

03:13.560 --> 03:14.328
>>AGAIN,

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YES, NAVY PIER ON

03:16.230 --> 03:16.597
THE

03:16.597 --> 03:18.165
ONE HAND AND

03:18.165 --> 03:18.498
McCORMICK I

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S

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ANOTHER UNIT.

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THERE

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ARE SEPARATE

03:22.402 --> 03:26.373
BUILDINGS.

03:26.373 --> 03:27.908
ALSO, I THINK THE

03:27.908 --> 03:28.909
OTHER THING,

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THERE'S A LOT OF SPACE

03:30.277 --> 03:31.445
BETWEEN -- AS WE LOOK

03:31.445 --> 03:32.045
AT

03:32.045 --> 03:33.280
MCCORMICK PLACE OR A LOT

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OF

03:33.647 --> 03:35.115
POTENTIAL ELECTIONS THAT

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THE

03:35.482 --> 03:36.517
MICHAEL

03:36.517 --> 03:37.584
REESE PROPERTIES,

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THE

03:39.052 --> 03:39.953
ABOVE-GROUND CHICAGO

03:39.953 --> 03:40.554
BEARS

03:40.554 --> 03:41.788
PARKING

03:41.788 --> 03:42.856
LOT,

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THE SOLDIER

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FIELD

03:44.591 --> 03:45.926
ITSELF, ONE SHOULDTHY ABOUT

03:45.926 --> 03:46.260
THAT.

03:46.260 --> 03:47.427
THERE'S ANOTHER

03:47.427 --> 03:47.895
800-POUND

03:47.895 --> 03:49.396
GORILLA IN THE ROOM AND THAT'S

03:49.396 --> 03:50.364
A

03:50.364 --> 03:51.231
CASINO BECAUSE CERTAINLY THATS

03:51.231 --> 03:53.000
THAT TO BE PART OF THE

03:53.000 --> 03:53.667
PROCESS.

03:53.667 --> 03:55.769
DOES THE MAYOR THINK WE'LL HAVE

03:55.769 --> 03:57.171
A CASINO IN A YEAR OR

03:57.171 --> 03:58.038
TWO,

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ABSOLUTELY.

03:58.438 --> 03:59.673
HOW DOES THAT FIT IN WITH THE

03:59.673 --> 04:00.974
BASKETBALL ARENA, THE TWO

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HOTELS

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AND EVERYTHING ELSE.

04:02.676 --> 04:03.510
>>THEY'RE NOT SAYING A WORD

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ABOUT A CASINO AT THIS

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POINT,

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EITHER.

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LET ME READ YOU

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WHAT

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METROPOLITAN CE.

04:09.850 --> 04:10.884
EO JIM

04:10.884 --> 04:11.451
RILEY

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SAID.

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HE SAID MOST OF THE

04:13.253 --> 04:13.854
COMPETITORS

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HAVE AN EVENT CENTER THAT

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ALLOWS

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A RANGE OF SHOWS THAT WE

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CANNOT

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CURRENTLY ATTRACT IN A

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COST-EFFECTIVE FASHION.

04:20.894 --> 04:22.563
THE PROPOSED MULTI

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PURPOSE EVENT

04:23.397 --> 04:24.765
CENTER AT McCORMICK PLACE WILL

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IMPROVE THE ABILITY TO ATTRACT

04:27.768 --> 04:29.837
SHOWSES AND WILL PUT INTO

04:29.837 --> 04:31.405
OVERDRIVE

04:31.405 --> 04:32.873
THE ENTIRE

04:32.873 --> 04:33.207
PROGRAM

04:33.207 --> 04:34.107
WE'RE IMPLEMENTING.

04:34.107 --> 04:35.475
THIS WOULD HELP REVITALIZE

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THE

04:36.176 --> 04:37.744
ENTIRE NEIGHBORHOOD,

04:37.744 --> 04:38.178
CREATING

04:38.178 --> 04:39.613
OPPORTUNITY IN THE PROCESS WHICH

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WILL BENEFIT THE ENTIRE CITY AND

04:41.148 --> 04:44.618
REGION.

04:44.618 --> 04:45.953
REGION WHAT'S YOUR REACTION.

04:45.953 --> 04:47.087
>>THAT'S A PRESS RELEASE AND

04:47.087 --> 04:48.622
YOU CAN SCRATCH OUT THE NAMES

04:48.622 --> 04:49.723
AND PUT ANY

04:49.723 --> 04:51.091
EVENTS YOU WANT OR

04:51.091 --> 04:52.125
ANY PARTICULAR BUILDING

04:52.125 --> 04:53.393
OR JOB

04:53.393 --> 04:53.861
WORK'S

04:53.861 --> 04:54.261
PROGRAM.

04:54.261 --> 04:55.362
SO IT'S A PRESS

04:55.362 --> 04:56.396
RELEASE.

04:56.396 --> 04:57.931
IT'S A PUBLIC RELATIONS

04:57.931 --> 04:58.298
DOCUMENT.

04:58.298 --> 05:00.200
IT'S CERTAINLY NOT A

05:00.200 --> 05:01.034
BENEFIT-COST STUDY, WHICH IS

05:01.034 --> 05:02.503
WHAT YOU WOULD LIKE TO

05:02.503 --> 05:02.936
HAVE.

05:02.936 --> 05:04.404
>>WHEN YOU DO THAT

05:04.404 --> 05:05.072
COSTS

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BENEFIT STUDY WITH

05:06.507 --> 05:08.208
AN EVENT

05:08.208 --> 05:09.176
CENTER, MULTI PURPOSE

05:09.176 --> 05:09.543
CENTER,

05:09.543 --> 05:13.180
WHAT WILL THE RESULTS

05:13.180 --> 05:13.580
BE?

05:13.580 --> 05:15.015
>>SOMEBODY WHO IS NOT BEING

05:15.015 --> 05:16.783
PAID TO DO IT, I THINK

05:16.783 --> 05:17.351
WOULD

05:17.351 --> 05:18.352
SHOW IT DOESN'T

05:18.352 --> 05:19.520
MAKE

05:19.520 --> 05:21.889
SENSE.

05:21.889 --> 05:23.056
VIRTUALLY EVERY CONVENTION

05:23.056 --> 05:23.857
CENTER IF THE UNITED STATES

05:23.857 --> 05:24.791
LOSES MONEY.

05:24.791 --> 05:25.859
WHY THERE ARE CERTAIN

05:25.859 --> 05:27.828
CONVENTIONS THAT ARE HELD AND

05:27.828 --> 05:28.262
EACH CITY

05:28.262 --> 05:29.196
AT AN

05:29.196 --> 05:30.797
ARM'S RACED AS

05:30.797 --> 05:31.732
UPPED THE

05:31.732 --> 05:32.099
ANTE AND

05:32.099 --> 05:32.966
WE'RE TRYING

05:32.966 --> 05:34.134
TO GET INTO

05:34.134 --> 05:35.302
ONE OTHER

05:35.302 --> 05:36.370
ASPECT TO

05:36.370 --> 05:37.171
COMPETE WITH ORLANDO

05:37.171 --> 05:37.804
AND LAS

05:37.804 --> 05:38.205
VEGAS.

05:38.205 --> 05:39.540
>>WHAT DO YOU THINK WOULD IT DO

05:39.540 --> 05:40.941
FOR THE NEIGHBORHOOD?

05:40.941 --> 05:42.709
WOULD IT BRING IN RESTAURANTS,

05:42.709 --> 05:43.777
BARS, SMALL

05:43.777 --> 05:44.178
SHOPS.

05:44.178 --> 05:44.978
>>HARD TO SAY.

05:44.978 --> 05:45.979
HOW MUCH IS

05:45.979 --> 05:46.580
REDISTRIBUTED FROM

05:46.580 --> 05:47.848
SOME OTHER PART OF

05:47.848 --> 05:48.649
THE CITY?

05:48.649 --> 05:50.484
FOR EXAMPLE, IF WE THINK ABOUT

05:50.484 --> 05:50.984
THE

05:50.984 --> 05:51.885
ARENA

05:51.885 --> 05:52.920
ITSELF,

05:52.920 --> 05:53.387
APPROXIMATELY

05:53.387 --> 05:54.521
100 PERCENT OF

05:54.521 --> 05:55.489
DePAUL

05:55.489 --> 05:56.323
FANS ARE

05:56.323 --> 05:57.391
FROM CHICAGO SO

05:57.391 --> 05:58.625
THEY'RE

05:58.625 --> 05:59.693
CHOOSING

05:59.693 --> 06:01.228
TO SPEND FOUR HOURS THERE AS

06:01.228 --> 06:03.764
OPPOSED TO SOMEWHERE ELSE.

06:03.764 --> 06:05.299
REALLY, OF ALL OF THE MAJOR

06:05.299 --> 06:06.600
ACTIVITIES, THERE'S ONLY ONE, I

06:06.600 --> 06:07.734
HATE TO SAY THIS AS

06:07.734 --> 06:09.169
A WHITE

06:09.169 --> 06:09.703
SOX

06:09.703 --> 06:10.737
FAN BUT THERE'S ONE

06:10.737 --> 06:11.205
FRANCHISE IN

06:11.205 --> 06:12.339
TOWN THAT HAS

06:12.339 --> 06:13.173
THE SIGNIFICANT

06:13.173 --> 06:14.808
ECONOMIC IMPACT ON THE CITY OF

06:14.808 --> 06:16.109
CHICAGO AND THAT'S THE CHICAGO

06:16.109 --> 06:17.578
CUBS.

06:17.578 --> 06:18.312
BECAUSE THEY DRAW SO

06:18.312 --> 06:19.213
MUCH FROM

06:19.213 --> 06:20.113
OUTSIDE.

06:20.113 --> 06:21.315
>>HOW DO YOU THINK THE CUBS

06:21.315 --> 06:22.716
FEEL ABOUT THIS DEAL?

06:22.716 --> 06:24.985
HERE WE'RE PROPOSING TO USE TAX

06:24.985 --> 06:26.420
DOLLARS WHICH THE CUBS DO NOT

06:26.420 --> 06:27.821
HAVE ANY ACCESS TO ACCORDING

06:27.821 --> 06:28.288
TO

06:28.288 --> 06:29.523
THE LATEST PLAN, FOR

06:29.523 --> 06:30.257
A

06:30.257 --> 06:31.024
STADIUM

06:31.024 --> 06:32.326
THAT'S AN

06:32.326 --> 06:32.793
EVENT,

06:32.793 --> 06:34.161
MULTI USE EVENT

06:34.161 --> 06:35.863
CENTER BUT

06:35.863 --> 06:36.697
DePAUL UNIVERSITY

06:36.697 --> 06:37.598
BASKETBALL TEAM?

06:37.598 --> 06:38.665
>>IT WAS ALSO

06:38.665 --> 06:39.766
OFFERED FREE RENT

06:39.766 --> 06:41.068
OR FREE SPACE TO PLAY

06:41.068 --> 06:41.835
THEIR

06:41.835 --> 06:43.303
GAMES AT THE UNITED

06:43.303 --> 06:43.737
CENTER AND

06:43.737 --> 06:44.872
THEY TRN IT DOWN OR

06:44.872 --> 06:45.772
AT LEAST THE

06:45.772 --> 06:46.206
THE MOMENT.

06:46.206 --> 06:47.674
SO I SUPPOSE THE CUBS AREN'T

06:47.674 --> 06:48.041
ALL

06:48.041 --> 06:48.709
THAT HAPPY.

06:48.709 --> 06:50.544
I DON'T IMAGINE THE BULLS

06:50.544 --> 06:52.312
AND

06:52.312 --> 06:52.646
PLAWX ARE

06:52.646 --> 06:53.547
HAPPY EITHER.

06:53.547 --> 06:54.882
IT'S A COMPETITOR.

06:54.882 --> 06:56.216
>>WHY WOULD DePAUL TURN THAT

06:56.216 --> 06:58.752
DOWN ZM.

06:58.752 --> 06:59.186
DOWN?

06:59.186 --> 07:00.187
>>THEY WANT SOMETHING WITH

07:00.187 --> 07:01.488
THEIR OWN NAME ON IT.

07:01.488 --> 07:02.890
AGAIN, DePAUL, AND

07:02.890 --> 07:03.423
I'M NOT

07:03.423 --> 07:04.024
FOR

07:04.024 --> 07:05.259
THEM OR AGAINST

07:05.259 --> 07:06.727
THEM, BUT IT'S

07:06.727 --> 07:08.328
A

07:08.328 --> 07:10.264
SECOND

07:10.264 --> 07:11.532
TIER BASKETBALL POWER.

07:11.532 --> 07:12.566
>>WHAT ABOUT THE

07:12.566 --> 07:13.634
IDEA OF

07:13.634 --> 07:14.668
PUTTING PUBLIC

07:14.668 --> 07:15.936
MONEY, HOTEL

07:15.936 --> 07:16.870
FUBDS INTO A

07:16.870 --> 07:19.640
STADIUM OR AN EVENT

07:19.640 --> 07:20.040
CENTER?

07:20.040 --> 07:21.108
>>IN ALL CASES IT

07:21.108 --> 07:22.009
DOESN'T MAKE

07:22.009 --> 07:23.210
SENSE TO DO THAT.

07:23.210 --> 07:24.244
JUST RECYCLING

07:24.244 --> 07:25.179
MONEY WITHIN AN

07:25.179 --> 07:26.980
AREA AND MOST LOSE MONEY BECAUSE

07:26.980 --> 07:27.915
AS WE SAID

07:27.915 --> 07:28.749
EARLIER

07:28.749 --> 07:30.117
THERE'S LOW

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OCCUPANCY

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RATES.

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>>SO IF THAT'S

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KNOWN, WHY THE

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BIG PUSH FOR THIS?

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IS THERE SOMETHING WE DON'T

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KNOW, OTHER THAN THE

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CASINO.

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>>I THINK THERE'S SOMETHING

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ELSE GOING

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ON, SORT OF

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MY SHOE

07:44.264 --> 07:45.399
JOKE AT THE

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OUTSET.

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BUT

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ALSO,

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IT'S NOT ORIGINAL WITH

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ME.

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IT'S HARD FOR A MAYOR

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TO KEEP

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A

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CONCRETE PROMISE TO THE

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PEOPLE.

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SO WHAT HAPPENS

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HERE, IS

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SOMEBODY IS GOING TO BENEFIT

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FROM THIS AND THE QUESTION IS,

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WHO?

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AND THAT WE DON'T KNOW.

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WE DON'T KNOW WHO IT IS AND

08:05.452 --> 08:05.819
WE

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DON'T KNOW WHAT ARE THE OTHER

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PIECES TO

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THISLE.

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>>IF THERE IS

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A CASINO,

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DOES IT

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MAKE MORMON TEAR

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SENSE?

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>>PROBABLY SO BECAUSE AGAIN IN

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THIS PARTICULAR SITUATION, A LOT

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OF THE GAMBLING IN CHICAGO THAT

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TAKES PLACE IS THE

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MAYOR'S BAND.

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WE HAVE

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CASINOS IN CHICAGO.

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THEY HAVE TO BE LOTIONED

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IN

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WISCONSIN AND INDIANA AND

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IOWA

08:30.043 --> 08:31.044
SO THIS

08:31.044 --> 08:31.812
WOULD

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BRING THE

08:34.681 --> 08:35.048
GAMBLING

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MONEY BACK INTO THE CITY, AS

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WELL AS OUTSIDE OTHER STATES

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INTO CHICAGO.

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>>ALL

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RIGHT.

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THANK