Severe issues could wreck potential Chicago bankruptcy – Center Square

In July 2013, Detroit became the largest city in U.S. history to file for bankruptcy. Wirepoints founder Mark Glennon said Chicago, unlike Detroit, has sold most of its future sales tax revenue. “This was a major mistake that the legislature in Springfield made about five years ago when they passed legislation authorizing this form of financing,” Glennon said.

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Editorial: Reluctant Pritzker should defy teachers unions, help kids – Champaign News-Gazette

“So far, (Gov. JB) Pritzker is opting out, as have most Democratic governors. Two Democrats who have opted in are New York Gov. Kathy Hochul and Colorado Gov. Jared Polis. Hochul, like Polis, explained she opted in because she decided the program was good for her state’s K-12 students. Illinois kids won’t be eligible for a scholarship if Pritzker doesn’t opt in.”

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Rich Miller: Legislative inspector general has some explaining to do – Chicago Sun-Times

“In the past week or so, three women have told stories about their dissatisfaction with the way they were treated by the state’s legislative inspector general. … ‘His treatment of victims is unacceptable,’ she wrote. ‘The LIG kept telling me he was a federal judge, and that I made him look incompetent and questioned his integrity of investigating. … If someone really comes forward with a serious sexual assault or a big case, nobody should have to talk to him.'”

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Ralph Martire: Underfunding education shortchanges children’s futures – Champaign News-Gazette

“ISBE cited numerous factors that have driven the school funding gap growth, including everything from declining local revenues, to a more accurate count of low-income students. But the gorilla in the room remains Illinois’ consistent failure to adequately fund K-12 from state-based revenue. In fact, the state only covers 27 percent of all education funding costs, well below the national average of 46 percent.”

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Commentary: Chicago’s quantum park comes with a $9 billion price tag. Who actually benefits? – Chicago Tribune*

“At the center of the dispute sits a document that still hasn’t been signed: a legally binding community benefits agreement (CBA). Reporting by the Chicago Reader and The TRiiBE lays out the coalition’s specific asks: protection against displacement from rising housing costs, guaranteed local hiring, preservation of parks and natural habitat, limits on pollution, a tax break for residents that mirrors what developers are getting and a community credit union to support small businesses.”

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Many Loop restaurants shut their doors during the pandemic. Now new ones are taking their place. – Chicago Tribune/Yahoo

The pandemic dried up much of the Loop’s lunchtime business, so many restaurant owners could no longer afford downtown rents, said John Vance, principal at Stone Real Estate. But landlords are now more likely to offer generous terms, perhaps including lower rents, and that’s helped local entrepreneurs without deep financial pockets gain a foothold downtown, he said.

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