Construction costs are currently at $850 million, more than double of the previous presidential library (). This money is coming from the Obama Foundation (from donations by God knows who), but once finished the City of Chicago will be footing the bill on operating costs, which can get out of hand fast if the center ends up flopping.
To alleviate that, the Obama Foundation promised a $470 million reserve fund to compensate, but currently there’s only $1 million in it and it has remained unchanged for years, possibly because the ballooning construction costs are eating into their budget.
Construction costs are currently at $850 million, more than double of the previous presidential library (
). This money is coming from the Obama Foundation (from donations by God knows who), but once finished the City of Chicago will be footing the bill on operating costs, which can get out of hand fast if the center ends up flopping.
To alleviate that, the Obama Foundation promised a $470 million reserve fund to compensate, but currently there’s only $1 million in it and it has remained unchanged for years, possibly because the ballooning construction costs are eating into their budget.