The Obama foundation is set to receive a 99-year lease to build its Presidential Center in Chicago's Jackson Park, according toChicago Business.
The ordinance will go before the City Council on Thursday, along with an ordinance that covers use of the roadways surrounding the center.
Under terms of the agreement, the Obama Foundation will be responsible for maintaining and keeping in good repair the grounds and buildings, while the City of Chicago will own the buildings and grounds. By contrast, the 11 official Museums in the Parks all have agreements in perpetuity. The foundation will pay the city $10 for the 99-year agreement. -Chicago Business