New FHA Report: Illinois home price growth slowest in nation, Northwest Indiana one of the fastest – Center Square

Illinois home prices, especially in the Chicago area, appreciated at the slowest pace in the nation last year, growing just below the rate of inflation. One of the fastest-growing areas in the nation, according to a new report, was right next door to Illinois.

The in-flow of Chicagoans is one of the key reasons behind the Gary area’s 7.9 percent increase in home prices year-over-year, according to an analysis of home price indices from the third quarter of 2019 by the Federal Housing Finance Agency, higher than all but six areas nationwide.

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Cash-Hungry Cities Seek Buyers for Sewer Systems to Pay Pensions – Bloomberg

Granite City, Illinois, a rust-belt town of 30,000 people on the Mississippi River, is facing a $130.8 million pension shortfall and has put part of its sewer system up for sale to raise funds. I

Alton, Illinois earlier this year sold its wastewater system to Illinois American and used the entire $53.8 million to chip away at its $134 million in pension liabilities. Godfrey, Illinois also sold a system this year that desperately needed upgrades to Illinois America. Mayor Mike McCormick says he’s stashing the money in a rainy day fund.

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Illinois offering low cost cannabis loans – The Telegraph

“When we made equity the core of the state’s new adult-use cannabis market, we wanted to ensure that social equity entrepreneurs had access to capital to get their businesses off the ground, and we’re proud to announce that interested applicants can start this process today,” said Pritzker.

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City Council committee votes to delay sales of legal weed until July 1 – Chicago Sun-Times

“Black Caucus Chairman Jason Ervin (28th) is furious African Americans have ‘zero representation’ among ownership of 11 dispensaries…. The 10 to 9 vote by the City Council’s Committee on Contract Oversight and Equity was a political embarrassment to Mayor Lori Lightfoot, whose administration tried desperately to appease the Black Caucus during negotiations that continued during the meeting.”

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Feds investigating former Cook County Assessor Joe Berrios, records show – Chicago Sun-Times

Former Cook County Assessor Joe Berrios.

A federal grand jury subpoena obtained by the Chicago Sun-Times shows investigators are digging into former Cook County Assessor Joe Berrios and his political organization. The subpoena seeks documents related to Berrios’ 31st Ward Democratic Organization, his Friends of Berrios campaign fund and the Mexican American Political Action Committee.

The subpoena asks for information about contributions to Berrios’ retirement

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Oak Lawn expects to reap at least $500K from ‘penny per push’ video gaming tax, believed to be first of its kind in Illinois – Chicago Tribune

The “push tax,” which is akin to a sin tax on people who gamble in Oak Lawn, will assess users a penny for each push or play of a video gaming terminal beginning Jan. 1.

Existing video gaming regulations impose licensing fees on terminal operators. Oak Lawn charges $1,000 annually per operator and $500 annually per video gaming terminal. But the push tax is unique in that it assesses a tax on individual players.

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Video: Shoplifters walk out of Lincoln Park store with armloads of winter coats – CWB Chicago

“We reported on Oct. 16 that shoplifting reports are up 20% over the past three years in Chicago. Suburban retailers have blamed the increase on a decision by Cook County State’s Attorney Kim Foxx to take a softer approach to shoplifting cases. Foxx has instructed her attorneys to reject felony-level retail theft charges unless a person is accused of stealing more than $1,000 in merchandise at a single event.”

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