Chicago alderman wants Daley to explain Olympic guarantee when he gets home from overseas

Alderman wants Daley to explain money guarantee

CHICAGO — Chicago Mayor Richard Daley may have some explaining to do about his plan to land the 2016 Summer Olympics.

Alderman Joe Moore says he wants to the longtime mayor to tell taxpayers why he agreed that the city will take full financial responsibility if it’s awarded the games in October.

Daley took the step this week in Switzerland during sessions with the International Olympic Committee.

Moore said Thursday that he wants an independent review of the risk taxpayers would be exposed to.

Daley has said the games won’t burden taxpayers and he insists that’s still the case. Chicago organizers have a safety net of $2.5 billion in public and private funds if the games are a flop.

Organizers say any additional financial exposure for taxpayers is remote.