An Illinois House panel advanced a bill in support of Mayor Rahm Emanuel's hotel and arena plan for plots adjacent to McCormick Place. If adopted by the full House, the bill will free up use of McPier's bond fund in raising an estimated $70M for the DePaul arena component. And, as we all know, another $55M in TIF support is at the ready. DePaul is being asked to kick in $70M. As for the 1,200-room convention hotel proposal, McPier would build it at a cost of around $400M. [Trib, previously]
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