Daley’s $100 Million Joke
Late last week a motley crew of reporters, business magnates, and cultural executives were herded into a briefing room at City Hall to hear Mayor Richard Daley announce that more than 25 corporations and philanthropic foundations had coughed up approximately $100 million for expansion and renovation of Orchestra Hall and the Civic Opera House.
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But a year later their grand plan was a shambles, primarily because CSO trustees turned out to be less enthused about it than executive director Henry Fogel was. Fogel backed down, but he and Lyric general director Ardis Krainik decided that the next best thing to a new venue would be to renovate their existing facilities. Bryan and his high-powered team even agreed to carry on with their fund-raising effort to help finance the rejiggered plan.
But Daley’s apparent disinterest in the renovations may prove to be the least of the concerns still facing the undertaking. Though they now have $100 million promised to them, neither the CSO nor Lyric know exactly how the money will be spent. Feasibility studies at both sites have yet to be completed, and no firm dollar figures have been given for the cost of the two projects. What’s more, two big questions remain: Can the CSO and Lyric raise the additional funds required, which could be as much as $100 to $125 million? And if they do, will such a massive intake of money now mean that there will be less of it around in the future to ensure that both organizations maintain their artistic excellence?
Art accompanying story in printed newspaper (not available in this archive): photo/Marc PoKempner.
