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Chicago City Council s revenue reporting mandate draws Moody s praise
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Chicago invites developers to casino table
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Chicago Mayor Lori Lightfoot looks to earmark nearly $1 billion in federal stimulus to pay off city s COVID-19 borrowing | Government and Politics
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Chicago mayor puts scrapping scoop-and-toss at front of line when federal funds arrive
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Sun-Times file
More than half of the $1.9 billion avalanche of federal relief on the way to Chicago will be gobbled up by retiring $965 million in scoop-and-toss borrowing used to eliminate the pandemic-induced shortfall, aldermen were told Wednesday.
Mayor Lori Lightfoot has warned aldermen to keep their wish lists in their back pockets because the money will have strings attached and it’s “not a slush fund that we can use every way that we can.”
On Wednesday, top mayoral aides explained why.
Roughly half of the $1.9 billion in new federal funds earmarked for Chicago will be used to honor the promise the mayor made before the City Council approved her $12.8 billion budget by the narrowest margin Chicago has seen since Council Wars.