Chicago has $2.7B shortage of infrastructure dollars, aldermen told – Chicago Sun-Times

Asset and Information Services Commissioner David Reynolds pegged the cost of getting into a “replacement cycle” — defined as “replacing things before they break” — at $210 million a year. In each of the last five years, he’s had $35 million to spend from bond proceeds and tax-increment-financing.
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blank_on_purpose
5 years ago

It is not a question of if but rather when the city will collapse. The decline can be a whole lot less painful if it is managed in an intelligent way. There are two possible options left at this point: It is time to start thinking and discussing shrinking the city like they did with Detroit. Houses and buildings should be raised to the ground and returned into native grasslands.. Either that, or the whole place should just be walled off as a CHAZ zone and turned over to BLM warlords… The later is probably the option that will be… Read more »

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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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