Chicago conference tells positive story to bond investors – The Bond Buyer
Among the other takeaways from the briefing: the city’s dispute with Chicago Public Schools over a $175 million Municipal Employees’ Annuity and Benefit Fund payment remains unresolved. Some City Council members are questioning the amount of tax increment financing surplus that goes to CPS in light of CPS’ refusal to shoulder the MEABF payment.
A prominent developer’s attempt to win committee approval for a $1.1 billion project that’s been stalled for nearly a year was again thwarted because it hasn’t reached a labor peace agreement with an influential union.
Economic growth in Illinois’ metro areas has been sucking wind for a long time. Start with Bloomington, which suffered the worst GDP performance of any metro area in the nation between 2019 and 2023. With a drop of 17% in real economic output, it’s dead last among the 384 metro areas the federal government tracks.
Ted appeared on Full Measure with Sharyl Attkisson to discuss Chicago’s financial problems, much of which stems from burdening Chicagoans with the worst local pension crisis in the nation.