Given where Chicago is right now this new stadium proposal is a bad idea and a bad deal – Wirepoints on The Chicago Way with John Kass
April 25, 2024
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Ted was on The Chicago Way with John Kass and Jeff Carlin to discuss the proposed $5 billion lakefront stadium project proposed by the Chicago Bears & Mayor Brandon Johnson, why Chicago is struggling compared to other metro areas across the country, why the city might or might not go the way of Detroit, and more.
Some Illinois lawmakers continue to deny that covid aid and other federal stimulus bailed the state out of its fiscal mess. But a look at past and projected revenues from COGFA shows just how much the bailouts blew out the state’s revenues. And now that they’re over, how much harder it will be for Illinois revenues to grow.
Election integrity – both real and perceived – is essential to government’s legitimacy and stability. Illinois, like the rest of the nation, better fix its problems now.
Ted joined Dan and Amy to talk about Chicago’s latest bond offering, why Chicago’s dismal home value growth is due to poor policies, the next $70 million to be spent on migrants, the 9% salary hikes demanded by the CTU, and why Illinois lawmakers voting to stop Chicago’s selective enrollment schools from being closed is hypocritical.
Weekly crime statistics from the Chicago Police Department: Report through 4/21/2024.
Alderscum Sophia King has taken thousands from the developers who want a billion in tif handouts from the city for the Michael Reese project. All applicable city officials were notified including Ferguson, nothing was done. Typical Chicago pay to play.
I believe the Tribune article failed to mention that TIF’s were created to encourage economic development in distressed areas. Perhaps some of these questionable TIF’s can be ‘remanded’?
First Chicago property taxpayer money is used to fund improvements in TIF districts.
Then in the Summer of Insanity rioters damage and destroy some of the improvements.
Then more Chicago property taxpayer money is used to repair and rebuild the damaged improvements.
The teachers are concerned about the TIFs? Where have they been for the past years when this TIF stuff all started? They can’t claim ignorance because they are self proclaimed experts in knowledge.
CTU has been trying to get at TIF money for over a decade. CTU is familiar with every dollar Chicago collects because they feel they are entitled to every dollar Chicago collects.
So, a third of the city’s property tax revenue is in what everybody agrees is a hopelessly nontransparent slush fund.
sounds like they are overtaxing residents by 50%
Yes, TIFs are a source of government power. One of the downsides of Big Government is that it perpetuates itself – in this case the TIF funds incentivize connected taxpayers to continuously act for favors and money. The problem I have with the CTU is that they wouldn’t spend the money wisely either, as Chicago shows there is little correlation between money and academic performance.
The question is How much NEW tax revenue is generated by the so called $926M investment? Will it be the same or more tax’s if the $926M was in new homes and businesses or is it put in properties that get tax breaks or abatements?
Chicago teacher union President Jesse Sharkey opposes children without broadband access going back to the classroom in the fall.
Why does the permanent victim class have money for iPhones, guns, pot, alcohol, ammunition, nail tips, weaves, expensive sneakers but no money for internet or food for their children?
Amazing, so much public money ($50B) funneled into a retirement system and the executive director is fired…no reason provided. Ridiculous.
Fraud he was going to expose pritzker and many others.