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Madigan refusal to refinance McCormick Place debt cost hundreds of millions


Geoff

Geoff Dougherty

November 14, 2011 @ 1:25 AM

Illinois House Speaker Michael Madigan cost taxpayers nearly half-a-billion dollars by blocking repeated efforts to restructure McCormick Place bonds and finance a much-needed second hotel at the convention center, a Crain's investigation finds. McCormick Place CEO Juan Ochoa, an appointee of then-Gov. Rod Blagojevich, had fired a Madigan ally at the convention center, and lawmakers from both parties say the speaker wanted retribution.

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