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Estimated price tag for pre -construction President Barack ObamaThe President’s Center in Chicago has reportedly alleged $ 850 million – The estimate of approximately three $ 300 million was estimated earlier when the project was conceived.
The Obama Foundation reported that it had already spent more than $ 615 million at Obama’s President’s Center, which is located in Jackson Park South of the cityBy the end of 2024, Chicago Tribune Informed
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The estimated cost of the Center has increased over the years. In the estimated budget, the design was killed $ 500 million after unveiling the design in 2017, then jumped up to $ 700 million in 2021, completely for construction cost, with access to total estimated cost $ 830 millionThe tribune reported.
Former President Barack Obama moderated a conversation on 05 December 2024 during the 2024 Democracy Forum of the Obama Foundation in Chicago, Illinois. (Scott Olson / Getty Image / Getty Images)
Citing the Obama Foundation spokesman Emily Betinner, the Chicago-based non-profit now puts the final estimates in $ 850 million.
The Chicago Tribune reported that the President’s campus, which was originally slated to open this year, is expected to open this year’s upcoming spring.
Former President Barack Obama’s estimated price tag for the construction of the President’s Center in Chicago has reportedly increased by $ 850 million, The estimate of approximately three $ 300 million was estimated earlier when the project was conceived. (Stephen Competon)
Chicago Tribune, citing the foundation, stated that the Net Assets of the Obama Foundation recently topped $ 1 billion for the first time after raising $ 195 million from around 92,000 donors.
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When a deal was made to build the center, the Obama Foundation promised to create a $ 470 million reserve fund for the safety of taxpayers. But the new tax filing shows that only $ 1 million has been deposited, with no recent contribution.
The horizon of Chicago is seen on the dynasty for the Midway Airport on Friday, August 16, 2024. (Tom Williams / CQ-Roll Call, Ink Getty Image / Getty Image)
Illinois GOP President Kathy Salvi Recently exploded the project as “hatred”, accused Democrats of risking taxpayers.
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“It’s not surprising that the Obama Center is potentially leaving the Illinois taxpayers high and drought – it’s an Illinois Democrat tradition,” Salvi told Fox News Digital in a statement. “Democrats in this state, when not going to jail for corruption, behave taxpayers like an individual piggy, who gives sweet deals to its political beneficiaries.”
The Obama Foundation and Barack Obama Presidential Library did not immediately respond to the request of Fox Business for comments.
Michael Doorgan of Fox News Digital contributed to this report.
