Rendell: Philly Needs to Raise $40 Million to Host 2016 Dems

But says national corporations will contribute much of that.

Former Gov. Ed Rendell says Philly will need $40 million to pay the costs of hosting the Democratic National Convention in 2016; the city is one of six still vying to host the gathering. That’s the bad news. The good news? A bunch of that money will come from private donors.

“I am confident that, if we are the host city, we’ll be able to get corporations all over the country to contribute, and assume the amount is 40, 45 [million], I think we can do that,” Rendell said.

One small problem: Local donors are also being tapped for next year’s World Meeting of Families, which is expected to draw tens of thousands of people — and, possibly, Pope Francis — to the city. (Newsworks)