-- Connecting the dots between our economy, government and business --
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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Lease terminated, space will be used for temporary migrant shelter.
Well, more public charge housing will soon be available
Technically, that building is in the Cabrini Green zone in which a specific percentage of units must be allocated towards section 8 and affordable housing.
Conversions to housing are really difficult. Rare it is the property that can be converted – in DC – real estate people think only 2 percent are candidates for conversion.
That space might be tough to fill as the West Loop seems to be poaching all the corporate moves.
Reminds me of this song. Here are the lyrics.
https://genius.com/Queen-another-one-bites-the-dust-lyrics
Now it is come to where people are paying to get out of the Chitty.
chortle!