Obama Center’s $470M “Safety Net” a Sham? Taxpayers Face Millions in Risk as Subcontractors Go Unpaid

“They promised hundreds of millions of dollars for it. It’s still sitting at the $1 million mark [where it stood] when they opened it up. So I don’t believe that they’ve kept that promise.”

The contractor disputes have renewed concern of the endowment because critics argue the fund was intended to serve as a backstop if the project ever encountered financial distress. The Obama Foundation disputes suggestions that taxpayers face exposure and said the project is funded through private contributions.