Everyone downplayed it, but the execution of Chicago's six-block Riverwalk extension hinged on the Feds approving a $100M loan. And yesterday's announcement by U.S. Transportation Secretary Ray LaHood ensured that will happen. Regardless of how many months of paperwork remain, the loan is coming— to be paid back with interest over 35 years. According to CDOT Commissioner Gabe Klein, higher tour boat docking fees will cover 70% of needed revenue. The jury's out on whether the gorgeously-rendered Riverwalk extension will end up a dynamic community space, pedestrian thoroughfare, or tourist trap. [Trib, previously]
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