It’s the taxpayers of the city, citizens of Chicago, and the state of Illinois.”
Richard Epstein, a law professor at New York University who has spent years legally challenging the project, stated that the reserve fund was designed to protect against this kind of uncertainty, Fox reported.
“The whole point of an endowment is to fund future expenses,” Epstein told Fox News Digital, adding that the endowment acts as a financial backup if future fundraising falls short.
If the endowment hasn’t been filled, the building [could] fall into neglect, it then becomes a safety risk, and it turns out that nobody’s going to pay the bill,” Epstein said
“The city, therefore, is going to have to assume additional obligations to make sure that thing is kept in place. ”
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