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Mayor Brandon Johnson’s “Cut the Tape” report takes aim at bureaucracy that bogs down building in the city.
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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Cut the red-tape? Get rid of the subsidized housing set-aside requirements, and watch the residential high-rise boom in response.
Only reason LaSalle Street high-rises are being converted to residential apartment high-rises is because City of Chicago (Mayor) is offering $150 million worth of real estate tax-breaks, in addition to Fed affordable housing loans. Johnson is buying these projects, at significant out-of-pocket cost to Chicago’s remaining real estate taxpayers. Bum deal. Bum mayor.
Soviets lament Soviet bureaucracy. Will create new 5 year plan to increase cement production to build more apartment blocks. A new Soviet Day is dawning, comrades!
Old Zippy would be better off naming it,
“ Cut the Cheese “.
As a famous prison warden once said,
“ Lordie it disappeared like a fart in the wind”.