Story by 89 WLS Reporter Bill Cameron
(CHICAGO) Mayor Rahm Emanuel chose Thursday’s second anniversary of him becoming mayor to propose a new DePaul basketball arena at an expanded McCormick Place and a renovated Navy Pier. But, it's going to cost you whether you like it or not.
The public subsidies of your money for this big deal top a hundred million dollars, but Emanuel says it’s appropriate because you’re getting much more than a DePaul basketball arena.
“More hotels, mass transit as a way to get here, an event facility, and yes, DePaul will be a major tenant, but another university in the area has also asked to be participatory,” Emanuel said. “I actually think it creates huge opportunity and more importantly you could not do Navy Pier without their participation.”
DePaul gets 100% of the millions from the naming rights, but will pay rent for using the arena: $25,000 per mens basketball game, $15,000 for a womens basketball game.
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