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"With HUD’s consent, the CHA has essentially become a land piggy bank for other government agencies and the private sector...HUD ultimately approved more than a dozen land transactions while applying little pressure on the CHA to measure the benefits for residents or produce more affordable housing. In several cases, the agency agreed to accept far less than a property’s market value."
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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Chicago simply does not want to be in the business of affordable housing. They want the private sector to magically absorb all the cost.
Imagine what the IRS would find if the highest paid 50 people in each city entity were audited.
Well when Obozo was their boss they spent alot of time auditing Tea Party members
With 87,000 more IRS agents they’ll have to time harass more tax-paying citizens. Thank you, Joe Biden.