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Samir Mayekar, Lightfoot’s deputy mayor for economic and neighborhood development, said landlords and lenders, who in a few cases might end up controlling properties, are eager for the city’s help. Redevelopment plans could serve the interests of both historic preservation and affordable housing, he said. “Equity is not achieved on its own,” Mayekar said. “The free market will not lead to affordable housing downtown without the city’s involvement.”
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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“the narrative that people and businesses are exiting in droves just doesn’t stand up.”
Sorry Roeder but the people and businesses who pay the highest taxes are indeed exiting the city in droves.
Turn LaSalle Street into the Taj Mahal of abortion mills. That would intersect with Chicago values…..
City Hall Wants To Turn La Salle Street Into The New Cabrini Green With Low Income Housing
“None of this registers with “hellhole” hatemongers who denigrate Chicago at every turn.”
LOL, they’re really freaked out about Bailey. He’s bursting their little blue bubble and are starting to realize that yes, most of the country sees chicago as a hellhole,
Moreover, there’s no talk about, you know, making the area safe again, and increasing chicago’s population. Amazing how an increasing population will fill up people pretty quickly. But with declining populations, empty buildings are underused, or abandoned, and now they want to put low income housing on LaSalle.