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The LaSalle Street improvement fund is slightly different than other Small Business Improvement Funds across the city. The maximum grant for the LaSalle Street improvement fund is higher than in other programs and would reimburse 90 percent of all expenses. Grants in other neighborhoods are capped at $150,000 per applicant and reimbursements vary between 30-90 percent.
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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