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The governor's office says it's willing to consider a major subsidy for a proposed development near Soldier Field, but the deal is likely to be a hard sell. The statement should be helpful to Dunn's Landmark Development as it seeks to clear a lengthy series of political, governmental and financial hurdles on the project, which eventually would include more than $20 billion in residential and other high-rises plus a $3.8 billion transit center that would be developed over two decades.
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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