Friends of the Parks agreed to halt their lawsuit against the City of Chicago’s proposed Lucas Museum.
In a Tuesday morning new release, the non-profit group said the decision to suspend the suit will give “the opportunity to have a more direct and productive dialogue to reach a potential solution about a museum site.”
On Monday the City of Chicago formally asked for a 30-day reprieve from an ongoing lawsuit, noting that they are actively seeking a new site for the proposed Lucas Museum of Narrative Art. Exploring an alternative plan would involve a portion of the site currently occupied the McCormick Place Lakeside Center.
“The remaining land resulting from the demolition of Lakeside Center will be converted into twelve acres of new parkland, to be owned by the Park District for public use and enjoyment, with the new parkland maintained (by the Lucas museum) at its sole cost for 99 years,” that motion states, conceding that “various aspects of the proposed plan will require state approval through legislation enacted by the General Assembly and signed by the Governor.”
The total cost of the plan has been estimated at over $1 billion, with Lucas contributing over $700 million. Part of the plan would involve construction of new exhibition space. But the financing package also calls for restructuring certain taxes, and extension of McPier’s current borrowing authority .
The gambit appears to be a risky one, with even the City conceding that barring the necessary legislative action by the end of this session, the litigation should be allowed to resume.