Flores’ Olympic Bid Cap Possibly Protecting Our Property Taxes

sudler-sothebys-logo2 July 2009 – First ward alderman Manny Flores has proposed an ordinance to cap the city’s liability for the 2016 Summer Olympics here in Chicago at $500 million. This proposal was in response to Mayor Daley’s meeting with the Olympic Committee in Switzerland on June 17. In that meeting Mayor Daley said as host city of the Summer Olympics, he would sign a contract that Chicago would be burdened with all loses incurred. As of today, ten other city alderman have signed on to the Flores proposal and will act as co-sponsors. Many people are concerned that if Daley were to sign such an agreement and there were cost overruns, the likely source to make up the difference would be real estate taxes in the City of Chicago.

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About Katie Anderson

Katie Anderson is a respected and successful broker at Sudler Sotheby's Realty as well as a certified appraiser. She specializes in representing clients who purchase and sell condominiums, town homes, single-family homes and income property in the Chicago land area. In her small amount time in the real estate game (she became an agent in 2003) she has assisted in excess of 400 deals and over $200 million in sales and continues to use her skills as a certified appraiser. Katie resides in Chicago's Bucktown neighborhood with her loving husband and 4-year-old-daughter, where she spends much of her spare time with her family and friends. You can contact her at katie@thechicago77.com or at andersonbraack.com

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