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"Leaving her mark on a downtown redevelopment effort in the final weeks of her administration, Mayor Lori Lightfoot is naming three plans for mixed-income housing as eligible for city subsidies."
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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Ghetto housing on LaSalle St……Brilliant!
I guess they don’t realize that demographics matter. Businesses look at the demographics of a neighborhood. Low income you get dollar stores, higher income you get higher end stores. When you mess with the demographics you won’t get either. The lower income residents will shop elsewhere as will the higher income residents.
Good Times.
Any time you meet a payment.
Good Times.
Any time you need a friend.
Good Times.
Any time you’re out from under.
Not getting hassled, not getting hustled.
Keepin’ your head above water,
Making a wave when you can.
Temporary lay offs.
Good Times.
Easy credit rip offs.
Good Times.
Scratchin’ and survivin’.
Good Times.
Hangin’ in and jivin’*
Good Times.
Ain’t we lucky we got ’em
Good Times.
Subsidized by who?
You.
The Downtown is DOA for sure now.
Kiss the Chitty goodbye. Let PPF live there.
Run for your safety and economic security.
Do not look back to you get to Punta Gorda, Fl.
It is Safe there as it is full of Chicago Cops.
Link doesn’t work, here’s the link.
https://chicago.suntimes.com/business/2023/3/28/23659301/city-backs-3-subsidized-housing-plans-for-la-salle-street-corridor