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Related Midwest plans to break ground by the end of the year on the first of two residential skyscrapers on the Chicago Spire site, a long-awaited step forward for a project that stands to dramatically change the city's lakefront skyline. The developer disclosed plans to begin work in 45 days on a 72-story apartment tower at 400 N. Lake Shore Drive.
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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