Goal: $36.6 million, later reduced to $31.3 million. Amount actually raised: $24.1 million.
Question the UPoR article on this obviously avoids: Who exactly will make up the difference?
To make up the difference, the host committee was forced to tap the $10 million line of credit that Duke Energy had guaranteed to woo the convention to Charlotte. Duke Energy said the committee borrowed $7.9 million from the line of credit, which it has to repay by Feb. 28.
“Duke Energy has not and will not use any utility customer funds to pay for any aspects of the convention, or events associated with the convention,” spokesman Tom Williams said in a statement.
Neither the Obama campaign nor the Democratic National Committee will contribute toward making up the shortfall, [DNC CEO Dan] Murrey said.
So yes, how does that line of credit get paid off? And is the host city itself on the hook?
