Chicago sells lots for $1 while spending big on affordable housing complex – Center Square

Paul Vallas, a past mayoral candidate, offered his reaction on X: “Mayor Johnson celebrating spending $47 million in taxpayers dollars to secure a meager 58 affordable housing units. That’s the equivalent to spending $810,344 per unit. The city has approved five such deals spending $324 million in subsidies in return for just 505 units. This includes $150 million going to downtown developers converting office buildings to housing, committing to just 300 affordable units. An outrageous misuse of tax dollars.”
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Daskoterzar
1 year ago

It really is stunning. $47M for 58 Housing Units. Not even homes. $810K each unit. What the hell is this PinHead doing? Pathetic waste of money.

Hello, Indiana!
1 year ago

It costs a lot of money to turn Michigan Avenue into Robert Taylor Way.

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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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