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This year, more than 60,000 people attended each day over Memorial Day weekend, generating $243.7 million in economic activity for the city. The new deal could potentially include expanding the two-day festival to three days.
The existing route has been in place since the old streetcar days of 1912. It new route would continue all the way to Lawrence Avenue.
If this budget passes the Board of Education on July 25, another deficit is expected later this year once the school district reaches a contract deal with the Chicago Teachers Union.
Thousands of residents are without drinkable water. Many lined up Wednesday at Ridge Park for bottled water handed out by the city.