Day: June 26, 2023

State investments net a record return – Crain’s*

With interest rates high and the Illinois treasury for a change relatively cash flush, the state in May earned nearly $200 million on its $43 billion investment portfolio — a record figure both in the raw amount and in the rate of return, according to Illinois Treasurer Mike Frerichs.

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City could open as many as 5 migrant shelters – Chicago Sun-Times

Asylum seekers buses Daley College migrantsThe largest of the city’s existing shelters is the Inn of Chicago, at 162 E. Ohio St., with 1,398 migrants. That is followed by the former Standard Club in the South Loop (1,084); shuttered Wadsworth Elementary School (588); Daley College (415); Wright College (383); Piotrowski Park (200); Brands Park (144); North Park Village (125); YMCA in Douglas (248) and YMCA in West Ridge (148).

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South Shore Neighbors Push For Law Locking In Protections For Longtime Residents Near Obama Library – Block Club Chicago

“There’s 10,800 old folk like me walking down 67th Street, walking in the park — and we wnat to stay in the hood!” said Linda Jennings, a homeowner in South Shore, speaking to her fear of falling behind on mortgage payments. She said condominium buildings like hers, if they fall into receivership, have been brought up by developers and subdivided into high-value rental units.

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‘We’re All In Danger’: New Lenox Mayor Blasts Kim Foxx On Crime – Patch New Lenox

New Lenox Mayor Tim Baldermann publicly criticized Cook County State's Attorney Kim Foxx. “If the state’s attorney’s office wasn’t constantly downgrading charges, and accepting pleas to make cases probation-able … if they instead pushed the issue, and held these criminals accountable, we’d have a young man still alive in this community…” said New Lenox Mayor Tim Baldermann. He also pointed to what he sees as shortcomings in Gov. JB Pritzker’s leadership, saying Pritzker has not offered long-term solutions or plans to combatting violent crime.

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Garien Gatewood, Chicago’s New Deputy Mayor for Community Safety, Aims to Transform City’s Approach to Violence – WTTW (Chicago)

Gatewood joined the Johnson administration June 1, after two years as the director of the Illinois Justice Project, where he advocated for the SAFE-T Act, and pushed Chicago officials to fix a broken program designed to keep teens who commit minor crimes out of jail. He said “top-down” solutions imposed on neighborhoods that have suffered from disinvestment for decades will not be effective.

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S&P: Illinois’ ‘poorly funded’ pensions to continue stress on state, local governments – Center Square

S&P Global Ratings published its “Pension Spotlight: Illinois” report Monday. In announcing the report, the agency said it “expects costs will keep rising because contributions are significantly short of meaningful funding progress, plans are poorly funded, and the Illinois Pension Code allows plans to use assumptions and methodologies that defer costs.”

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Lightfoot’s Outgoing Executive Orders Defy Precedent; Court Conflicts with Council – Better Government Association

Former Mayor Lori Lightfoot’s “Pension Advance Fund” order attempts to establish a new city fund and direct the placement of revenues into it, a move that likely would require City Council budget action. Several of Lightfoot’s outgoing orders attempt to set far-reaching policy agendas that would long outlast Lighftoot’s term in office and commit her successor to the outgoing mayor’s agenda.

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A Glimmer of Hope Emerges on Chicago’s South Side – Chicago Contrarian

“(Pastor Corey) Brooks is a conservative living in a progressive city. Unlike Wright, Jackson, Sharpton, Pritzker, and Johnson, Brooks believes upward mobility is achieved through personal industry, completing an education, and acquiring economic opportunity, not dependency on government largesse. Unlike the race hustling clergy and left-wing politicians, Brooks does not see race as a detriment to socioeconomic mobility…Moreover, in contrast to clergy and progressive lawmakers, Brooks is a firm believer in market capitalism as the foremost economic system to uplift and create individual and generational wealth.”

 

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Opinion: What the shocking Nation’s Report Card scores reveal about Catholic schools – FOX News

“Even Chicago’s then-Mayor Lori Lightfoot, who rarely turned to free market principles, implicitly recognized the power of market incentives in K-12 education when she begged the Chicago Public Schools to reopen like their parochial counterparts. Her public health department found no negative impacts from reopening Catholic schools, but the mayor’s call to follow the science was dismissed by the city’s powerful teachers’ union, which elected to go on strike, even into 2022.”

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Mayor Brandon Johnson aims to boost teen employment, one of his signature campaign promises – Chicago Tribune*

The program, called One Summer Chicago, is a longtime staple of City Hall’s approach to summer violence and youth enrichment that serves youth ages 14 to 24. It has shrunk from employing 31,552 young people in 2019 to 20,544 kids last year, according to city figures. Johnson said Monday that the program is on track to hire 2,000 additional youth compared to its 2022 levels. He said, “As a teacher, I’ve looked into the eyes of children every single day who longed for hope. I’ve seen what the lack of opportunity looks like, and that’s what drives me today.”

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Why some say Illinoisans are fleeing the state – WICS (Springfield)

Bryce Hill, of the Illinois Policy Institute, believes it’s easy to say that Illinois’ numbers are low due to a gap in a report. He adds that correcting those numbers won’t change the fact that people are fleeing the state at an extreme rate. “Illinois population story is like a leaky bucket you know there’s more water in the bucket than we previously thought and that’s a good thing but there’s still a hole and they’re still we’re still losing water.”

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Cook County evictions reach their highest monthly total in more than four years – WBEZ (Chicago)

In May, more than 800 tenants were evicted from their places of residence; That’s the highest number of evictions enforced in a single month by the Cook County Sheriff’s Office in the last four years. Overall, in 2022, landlords submitted about 29,000 eviction filings — just 300 fewer than the 2019 total and a number roughly equivalent to the population of a suburb like Highland Park or Niles.

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Billionaire James Crown, Civic Committee leader, dies in crash at Colorado racetrack – CBS2 (Chicago)

The Aspen Institute 33rd Annual Awards Dinner Crown recently spearheaded an initiative by the Civic Committee to raise tens of millions of dollars over the next several years to work with organizations and local leaders to help fight crime in Chicago; The idea is that collaboration is key to making Chicago the best it can be. Earlier this month, Crown said the hope is to improve safety throughout the city — including for his employees, and for tourists who support Chicago businesses.

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Real estate agent to Chicagoans: Please don’t leave – Crain’s*

On June 21, a Chicago real estate agent sent a newsletter to 20,000 people that addressed a sore subject: people leaving the city because of crime and other problems. He urged people to stay and help heal the city’s ills. The newsletter is the latest flashpoint in a contentious debate citywide and more specifically in real estate circles. Are people leaving Chicago and, if they are, is it because of crime?

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JB Pritzker among 3 Democratic governors raising their profiles, which could chart paths to White House: Experts – ABC News

PHOTO: Illinois Governor J.B. Pritzker speaks to business and political leaders during an event to officially announce Chicago as the host city for the 2024 Democratic National Convention on April 12, 2023 in Chicago.“Some of Pritzker’s involvement has been in his official capacity as governor. Democratic control of the Illinois Legislature since 2019 has allowed him to sign major new laws, including passing a preemptive ban on book bans, a minimum wage increase, marijuana legalization and more. But he is also going out of his way to support

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Illinois gives a first look at a literacy plan for schools. Here are four things to know. – Chalkbeat Chicago

The plan says “universal screening for literacy skills is essential” because it can help teachers figure out where gaps are in a student’s reading skills. However, universal screening is not currently required by the state. A bill in the spring that would have required screening to test for reading difficulties and disabilities such as dyslexia for children in kindergarten to second grade did not pass.

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Editorial: Chicago teachers ponder funding Lincoln Yards, a development CTU once protested. Watch out. – Chicago Tribune*

“As of 2021, the State Universities Retirement System of Illinois had some of the largest real estate holdings among public pensions. But its biggest investments were in broad-based funds run by professional real estate experts. A few very large pension systems, including California’s and Canada’s, have built in-house teams of real estate pros capable of conducting due diligence on big projects.”

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The assessment on Cook County Assessor Fritz Kaegi’s home went down while his neighbors’ soared. – Chicago Tribune/MSN

But there’s no fix in at the office, the assessor’s office insists. In fact, Kaegi said the decrease was a corrective counterbalance to a massive assessment hike his house received when he took the unusual step of tattling on himself three years ago, resulting in his family paying more per square foot than neighbors in comparable homes.

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