Day: June 20, 2019

I-80 labeled “signature’ project – Herald-News

The acting head of the Illinois Department of Transportation on Thursday called the $848 million Interstate 80 plan the “signature” project in the state’s largest capital bill ever.

“We are committed to it,” Omer Osman, the acting state transportation secretary, said of the I-80 project at a luncheon meeting for the Joliet Region Chamber of Commerce and Industry.

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Miami targets Chicago’s financial firms – Crain’s

Representatives of the Miami Downtown Development Authority arrived in Chicago this week on a four-day mission to lure Chicago firms to their sunny city. They’re particularly focused on small and mid-sized financial firms that can more easily pick up their lucrative businesses and head south, but they’ll take any firm, or those interested in simply opening a new Miami outpost.

“We’re coming after Illinois,” said Miami DDA Deputy Director Christina Crespi, noting that their efforts were spurred partly by the proposed Illinois graduated income tax that would increase levies on the state’s richest residents. Florida

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Where Chicago property taxes are about to soar – Crain’s

Countywide, bills should increase about 3.7 percent on average, regardless of whether the parcel involved is a home or a commercial property. But there are wide variations by region and property type.

As a result, average bills in the north and central thirds of the city will be up 11.46 percent and 11.29 percent, respectively. But in the southern third of the city, where property values have risen more slowly, the hike will be just 0.98 percent for homeowners.

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Hidden Debt, Hidden Deficits: The 2019 Update – Hoover Inst.

Some cities are proving to be uniquely problematic, with Chicago, for example, a particularly extreme case. While the city contributed a substantial 33.2 percent of its revenue toward servicing the city’s pensions, the city would have needed to contribute a staggering 66.3 percent of its revenues in order to maintain its existing liability.

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Opposition voices went silent, grew weary or were ignored — and gambling roared in – Mark Brown – Chicago Sun-Times

Practically without substantive opposition beyond backstabbing within the gambling industry itself, three decades of Illinois lawmakers gradually upping the ante on legalized wagering as a solution to government revenue needs gave way to an “all in” explosion of new and larger gambling venues and more ways for people to part with their money —including online and sports betting.

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