Posted inCatalyst Chicago, Cover Story, Education

Costs mount for Clark St., satellite offices

Board officials say that the original capital spending plan did not include the $33 million because the final budget for the move had not yet been approved. Chief Operating Officer Tim Martin says that savings on operating the new facility will be set aside to pay off the bond money. The Pershing Road headquarters, cost about $6 million a year in utilities and maintenance, he says, while the former Com Ed building will cost about $2.3 million a year.