CHICAGO (TOC) — Mayor Lori Lightfoot has continued to tout the advantages of a brand new deal to maintain Lollapalooza in Grant Park for the subsequent 10 years, however mixed with subsequent summer season’s NASCAR race, is it an excessive amount of for downtown?
As crews cleaned up Grant Park after Lollapalooza 2022, the music competition is now beneath contract for at the least the subsequent 10 years, with a greater deal for the town in addition to assured stability for Lolla’s organizers.
“The contract is structured for us to share the wealth,” Lightfoot stated. “So in different phrases, we have got a base, however as issues get higher, hopefully they are going to, which means because the revenues enhance yr over yr, we get to share in that.”
However subsequent yr guests to downtown Chicago won’t solely need to deal with Lollapalooza closures; NASCAR may also be taking on Grant Park, shutting down streets and components of the park for 10 to 12 days for setup and tear down for his or her first avenue racing occasion.
The mixture has raised issues with some aldermen, particularly about shutdowns alongside DuSable Lake Shore Drive.
“So you have at all times received to play chess, not checkers, you have to have a look at the larger image,” Lightfoot stated in response. “And sure, there’s inconvenience. However on all of those applications, we received to consider what are the investments that we’re making? What’s the return on the funding to the native financial system and our residents?”
The mayor famous the estimated financial affect of Lollapalooza in 2021 was $305 million. She stated some native resorts this previous weekend reported higher numbers than earlier than the pandemic.
The mayor stated the town will work with organizers from NASCAR because it does with Lollapalooza to reduce the inconvenience for drivers and vacationers, however she stated the advantages to the town far outweigh the downsides.
Copyright © 2022 TOC-TV. All Rights Reserved.