Monday, January 22, 2018

Chris Kennedy: “I Don’t Know the Answer”

Chicago, IL – Today, Chris Kennedy held a press conference where he provided more property tax rhetoric that is at odds with his record, refused to say if he regretted “applauding” Bruce Rauner on Friday, and said “I don’t know the answer” to basic questions about his own plan.

Most notably, the basis of Kennedy’s “plan” is the idea that the building he was standing in front of was assessed for a fraction of what a bank valued the same building. However, Chris Kennedy’s Merchandise Mart benefitted from this same practice during his tenure.

THE FACTS – In 2007, while Chris Kennedy was President of the Merchandise Mart:

• The Merchandise Mart was appraised at $917 million in documents used to obtain a loan.

• That same year, the Assessor and Board of Review assessed the Merchandise Mart at $436,068,830, less than half of its appraised value.
• The Cook County Assessor at the time, James Houlihan, is now a major donor and fundraiser for Chris Kennedy’s campaign.

“Chris Kennedy held a press conference to attack himself, railing against the same practice he exploited to get millions in property tax breaks at the Merchandise Mart,” said Pritzker communications director Galia Slayen. “For Chris Kennedy, it is do as I say not as I’ve done for millions of dollars in property tax breaks.”

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