The African American Contractors Association is raising concerns about unpaid bills from building the Obama Presidential Center.
The hulking mass of stone, which reportedly cost nearly $1 billion, will open this week.
However, contractors are alleging they have not been fully paid for all the work. At the same time, the chair of the Illinois Republican Party says the center’s finances could leave taxpayers on the hook for repairs down the road.
Fox News reported:
Outside the center last week, Adamson Plumbing President Mike Owen provided company spreadsheets to Fox News Digital, which he said showed that his firm is nearly $4 million in the red. He said that unnecessary rework, delays and more than 100 change-order requests left his company absorbing millions of dollars in additional costs.
In addition, Omar Shareef, the president of the African American Contractors Association, told Fox News Digital outside the center last Saturday that several Black-owned contractors are also in financial difficulty due to the project.
Illinois GOP Chairman Bob Grogan said the Obama Foundation has not lived up to its promise to create an endowment that will pay for future work. Annual operating costs are expected to be around $40 million, Fox News reported.
Yet, the Foundation has only put aside around $1 million into a reserve fund. Even with generous stock market returns of 10 or 20% the fund would only be able to cover a few days of operation.
“One of their core promises was they were supposed to create an endowment as basically an insurance policy so the taxpayers wouldn’t get stuck with the bill,” Grogan told Fox News.
However, the foundation said “it is in compliance with its agreement with the city, noting that the pact required the creation of an endowment but did not specify a dollar target,” Fox News reported.
The project has been a sore spot not just on the eyes but for local residents as well.
Local University of Chicago professors, environmentalists, and other citizens opposed the center from the beginning in 2018, as The College Fix previously reported.
Residents have also complained about their rents going up, which they blame on the Obama Center.
The center is expected to open this Friday, although there is a private ceremony planned for Thursday.
Due to the hubbub, families will not be able to visit the nearby Museum of Science and Industry, according to NBC 5.
[Featured image via NBC News screenshot]
Matt Lamb currently works as an associate editor for The College Fix. He also contributes to a variety of websites, including Legal Insurrection, Human Life Review, and AMAC Newsline. His work has been published by The Federalist, Townhall, and The Daily Caller. He has worked for Students for Life of America and Turning Point USA.
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