Businesses have to wait for emergency loans from City of Chicago – Crain’s

Chicago's biggest coronavirus relief program has paid out only a fraction of its goal. The program was intended to provide short-term relief to businesses in need of immediate cash infusions. At the time, according to city officials, the average small business in Chicago had just 28 days' worth of cash on hand, and some in areas such as Englewood had as few as five.

But five months and more than 10,000 applications later, only about $17 million has made its way to 625 small-business owners, program records show. Recipients include restaurants, bars and breweries, day care centers and auto shops, salons, retailers and heating and air conditioning companies.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

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.

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