Sunday, March 23, 2014

BAC Update


Mayor Rahm Emanuel headed to the far Southwest Side last month to announce a deal to help bail out the financially struggling Beverly Arts Center.

The city will kick in $250,000 in leftover money from the 2012 NATO summit toward the arts center's debt. Fifth Third Bank, which has city business, will wipe off the books up to $2.2 million in loans.

The BAC was built in 2002 at a cost of $12,000,000. Unfortunately, whoever put that deal together forgot a detail. How to service the debt. That problem seems to have been properly addressed now. 
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4 comments:

  1. Anonymous3/23/2014

    Thanks to Matt Oshea.

    ReplyDelete
  2. Anonymous3/23/2014

    And forgot another detail, Its heated electrically.

    ReplyDelete
  3. Anonymous3/23/2014

    People in the neighborhood are struggling in this economy. They need decent jobs before they need art.

    ReplyDelete
  4. Anonymous3/25/2014

    Let's see the audit

    ReplyDelete

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