-- Connecting the dots between our economy, government and business --
Chicago's Department of Planning and Development receives more than 450 applications of interest each month, while it is only able to offer about 800 parcels for sale each year.
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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
So the city sells about 800 lots per year. With about 250 work day per year the city sells about three lots per day. So how many people in Chicago’s Department of Planning and Development handle these sales. That would be a very interesting figure to know. I bet the number is larger than anyone would think.
The lady wants to buy the lot from the City. She wants to pay taxes on it. The City can’t seem to get around to selling it. And nobody gets fired for this?