February 3, 2023

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Lightfoot Challenger Paul Vallas Rakes In Funds From Business Leaders

Paul Vallas and Lori Lightfoot (Getty, iStock)

Paul Vallas and Lori Lightfoot (Getty, iStock)

Chicago mayoral candidate Paul Vallas received more than $760,000 of contributions from donors with organization and actual estate ties, boosting his profile in a crowded industry of challengers to incumbent Mayor Lori Lightfoot.

The previous CEO of Chicago Public Faculties raked in $836,500 of complete marketing campaign donations in the second quarter, in accordance to a report his campaign filed Wednesday. His major came from golfing study course developer and Republican donor Michael Keiser, who kicked in $500,000.

Vallas also obtained $100,000 each individual from John Canning and James Perry of Chicago non-public fairness business Madison Dearborn Companions, as well as $50,000 from Noel Moore, controlling partner at Endurance Asset Administration.

Vallas acquired $10,000 from the O’Donnell Family members LLC, which shares an address with Riverside Investment decision & Development, run by CEO John O’Donnell. The agency didn’t react to a request from The Real Offer to confirm whether or not there was a relationship.

Hedge fund Centaur Money Companions President John Schreiber contributed $1,000, as did Navigant Advancement President Anthony Tomaska and RMK Administration Senior Vice President Thomas Kearney.

Vallas ran for mayor in 2019 and did not advance to the runoff. The other announced candidates in the 2023 race are Alderman Ray Lopez, Alderman Roderick Sawyer, Chicago businessman and philanthropist Willie Wilson, Condition Rep. Kam Buckner, and police officer Frederick Collins.

Neither Lightfoot nor 2019 runner-up Toni Preckwinkle had been favored candidates of the genuine estate lobby, which distribute its support amongst a handful of candidates around the two self-styled progressive reformers, who promised to improve the city’s romantic relationship with developers.

Lightfoot had proposed proscribing the use of tax increment funding for advancement and restricting aldermen’s unilateral powers above zoning approvals in their individual wards.

Leading into the runoff, developers and brokers poured more than $800,000 into Lightfoot’s campaign. Her backers integrated Fairness Group founder Sam Zell and his wife, Canning, and prime leaders at Exelon.