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joelen&louis
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
WTH? July 3rd Fireworks Show Cancelled in 2010!
You'd think the price hike on metered parking would help out their budgets... but still they cut the major fireworks display?!
Re: WTH? July 3rd Fireworks Show Cancelled in 2010!
That kinda sucks. BTW- metered parking is no longer city owned... they leased them to Chicago Parking Meters LLC so the city doesn't get that money.
Do you know how this works? I'm guessing that they're getting some kind of revenue, likely a percentage. But I really have no clue.
I'm sad about the fireworks. I live right by Grant Park, and they were really good in 2009.
Looked into this more...
75 year lease for one time payment of $1.157 billion dollars. Leasee is entitled to all revenues. So there was a LARGE sum of money paid to the city... who knows what they actually did with it.
Wow. Just wow.
I think they must have decided it was a bad deal because I read recently that the mayor's chief of staff was asked to step down after the fall-out from that decision.
Thanks for the info!
This is yet another reason why the whole this is so controversial. Aside from the fact that it was passed so quickly, a lot have said the amount they sold it for wasn't as high as the amount of revenue that will actually be generated over the 75 years from the meters. They did it for the quick cash. And (according to the Tribune) they were supposed to set aside a sum of it to offset the lost revenue from the meters that the city was making (like 400 million), but they've already tapped into that (used up like 270 million) to help balance the city budget.
It's bleepin' golden, really.
For $1.157B, I'd think they could afford to show us some damn fireworks! Oh, and not raise our taxes so much! We just got our first installment for 2009, and they were raised again!!
Oh and here's an old article from the NY times describing the difference in the amount of revenue generated versus the amount of money they actually made out of the deal:
http://www.nytimes.com/2009/11/20/us/20cncmeters.html
And here's an article with some info on the money being spent from the parking meter deal/tapping into the reserve:
http://newsblogs.chicagotribune.com/clout_st/2009/10/mayor-richard-daley-to-unveil-budget-this-morning.html#
Yes, but they won't use it for fireworks. Boo.
The parking meter situation was not handled well, but this isn't the first chief of staff to leave. The Mayor goes through them on a regular basis. I thought they generally only last with him for 1-2 years.
Navy Pier should still have fireworks and I think those fireworks have been far better than the ones at Taste in the last few years.
Enough about the parking! I love the 3rd of July fireworks! It's a Chicago tradition! Everyone knows that the 4th of July fireworks are horrible & the 3rd of July fireworks are where its at! First they take away the South Side Irish Parade and now this! The City of Chicago is taking away all of our fun!