City Council passes mayor’s $1.25B bond authorization, $70M in …

Apr 22, 2024  · Mayor Brandon Johnson is pictured during a City Council meeting April 17, 2024. [Don Vincent/The Daily Line] The City Council gathered for the second time in a week on …


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City Council Passes Mayor’s $1.25B Bond Authorization, $70M In …

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Apr 22, 2024  · Mayor Brandon Johnson is pictured during a City Council meeting April 17, 2024. [Don Vincent/The Daily Line] The City Council gathered for the second time in a week on …

thedailyline.com

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City Passes Migrant Funding, Economic Development Bond

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Apr 20, 2024  · After lengthy discussion and heated debate Friday, City Council approved $70 million in funding for migrants, and a $1.25 billion bond for economic development and …

wgntv.com

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Johnson’s Ambitious $1.25B Bond Plan, $70M Migrant Proposal …

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Apr 20, 2024  · Mayor Brandon Johnson scored two major victories Friday as the Chicago City Council passed his $1.25 billion bond plan and a $70 million migrant package. The two big …

chicagotribune.com

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City Council Votes 32-17 To Borrow $1.25B To Fund Economic …

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Apr 19, 2024  · The Chicago City Council voted 32-17 on Friday to borrow $1.25 billion during the next five years to fund a wide-ranging slate of projects designed to expand the supply of …

wttw.com

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Mayor Brandon Johnson's $1.25 Billion Borrowing Plan For …

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Apr 19, 2024  · CHICAGO (CBS) -- The Chicago City Council on Friday approved Mayor Brandon Johnson's plan to borrow $1.25 billion over the next five years to fund affordable housing …

cbsnews.com

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Mayor Brandon Johnson's $1.25B Borrowing Plan Sails Through …

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Apr 19, 2024  · The City Council authorized a massive $1.25 billion borrowing plan for economic development and housing projects on Friday, handing Mayor Brandon Johnson a key victory in …

suntimes.com

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Don Vincent On LinkedIn: City Council Passes Mayor’s $1.25B Bond ...

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City Council passes mayor’s $1.25B bond authorization, $70M in new migrant spending from reserves. Via Michael McDevitt Tony Beale | Bill Conway | Brendan…

linkedin.com

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City Council Moves Bond Plan, Migrant Funding Votes | Crain's …

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Apr 17, 2024  · City Council punts $1.25B borrowing plan, $70M migrant funding votes to Friday. Two high-profile City Council votes were delayed by allies of Mayor Brandon Johnson today, …

chicagobusiness.com

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Mayor Johnson's Plan To Borrow $1.25 Billion Hits Another Roadblock

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Apr 15, 2024, 10:19am PST. Mayor Brandon Johnson’s plan to borrow $1.25 billion for housing and economic development initiatives hit a snag Monday in a City Council committee. Sun …

suntimes.com

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Brandon Johnson's Bond Plan Approved By City Council | Crain's …

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April 19, 2024 05:05 PM. The City Council approved a $1.25 billion bond funding plan today, providing Mayor Brandon Johnson the ability to pump money across Chicago neighborhoods …

chicagobusiness.com

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Chicago City Council Passes 2 Major Spending Plans, Including …

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Apr 19, 2024  · The Chicago City Council has passed two major spending plans – a $70 million for the city's migrant mission and a $1.25 billion affordable housing bond.Subsc...

youtube.com

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Mayor Brandon Johnson Offers Revised Plan To Borrow $1.25 …

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Apr 12, 2024  · A revised version of Mayor Brandon Johnson’s plan to borrow $1.25 billion to spur affordable housing and economic development projects was unveiled Thursday, though a key …

suntimes.com

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City Of Chicago :: Mayor Johnson Announces $1.25 Billion …

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Feb 21, 2024  · CHICAGO — A planned $1.25 billion bond issuance announced by Mayor Brandon Johnson today would restructure the City of Chicago's approach to equitable …

chicago.gov

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Mayor Brandon Johnson Wants City To Borrow $1.25 Billion — …

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Mar 12, 2024  · Mayor Brandon Johnson’s plan to borrow $1.25 billion to bankroll economic development and affordable housing projects is back on track for City Council approval, but …

suntimes.com

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Tax Hike Approved In Newark; City Council Passes 2023 Budget

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Aug 7, 2023  · The Newark City Council approved the 2023 municipal budget at their meeting last week, voting unanimously in favor of a resolution that authorizes an $823.91 million spending …

patch.com

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Mayor Johnson's Plan To Borrow $1.25 Billion For Development …

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Mar 24, 2024  · Some Chicago City Council members urged more oversight of which projects Johnson’s plan would fund, while supporters said it would be a much-needed boon to housing …

suntimes.com

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Chicago City Council Green-lights Johnson’s Debt Refinancing Plan

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Oct 22, 2024  · The City Council authorized a $1.5 billion bond refinancing plan Tuesday that Mayor Brandon Johnson and his budget officials hope will help close an end-of-year deficit. …

suntimes.com

FAQs about City Council passes mayor’s $1.25B bond authorization, $70M in … Coupon?

Will a $125 billion bond issuance restructure Chicago's approach to neighborhood development?

Mayor's Press Office 312.744.3334 Download this Press Release CHICAGO — A planned $1.25 billion bond issuance announced by Mayor Brandon Johnson today would restructure the City of Chicago's approach to equitable neighborhood development and distance itself from the challenges of the primary public finance tool of previous administrations. ...

Will a 2024 bond deal add $70 million to Chicago's deficit?

Approval of the bond deal already had been baked into the 2024 budget — which came as an unpleasant surprise to some alderpersons — and budget officials warned that not green-lighting the bond sale would add $70 million to the city’s deficit. Mayor Brandon Johnson presiding at Tuesday’s Chicago City Council meeting. ...

Will a massive bond issue be on the finance committee's agenda?

Finance Committee Chair Pat Dowell (3rd) said the massive borrowing — signaling a fundamental shift in the city’s long-standing dependence on tax increment financing as a primary economic development tool — will not be on the agenda of Monday’s Finance Committee meeting. “I’m not moving the bond issue fast. ...

Will a city bond deal 'kick the can' further?

Ald. Raymond Lopez (15th), who voted against the proposal, decried the city’s borrowing more broadly and said he worries the bond deal will “kick the can further and further, interest rates are changing against us, and when fees are still stacked against us.” ...

How will municipal bond proceeds be paid for?

Bond proceeds would be received by the City upon their purchase by municipal bond buyers. Principal and interest costs, estimated at $2.4 billion over the next 37 years would be fully paid for by projected increases in citywide tax revenues due to expiring TIF districts. ...

Who is responsible for Bond Oversight and monitoring?

Bond oversight and monitoring would be administered by DPD and DOH with regular reporting to City Council and the public, including redevelopment agreement requirements involving job creation and retention; local, women and minority hiring; housing affordability provisions and tenancy; public benefits, and other factors. ...

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