Get the latest news from around Illinois.
Chicago Tribune: Moody's downgrades NEIU, warns of credit declines for 6 schools
After nearly two years of state budget gridlock, Illinois’ public universities could soon face a tougher time borrowing money after a major credit agency downgraded the rating for one school and warned that six others could face the same fate.
In reports issued Tuesday, Moody’s Investors Service announced that it had bumped Northeastern Illinois University down two levels, from a Ba2 to a B1 rating, citing “weakened cash flow” in part caused by the state budget impasse, now in its 22nd month. The downgrade puts Northeastern’s credit deeper into what is commonly known as “junk” status, indicating the borrower is a “high credit risk.”
CBS 2 Chicago: Latest Blow To NEIU: A Downgrade To ‘Junk’ Credit Status
Ted Dabrowski is with the fiscally conservative watchdog group Illinois Policy Institute.
“The real problem is that the universities are just too bloated, they are too expensive and they’ve priced themselves out of the reach of most kids,” he says.
Associated Press: Moody’s to review most Illinois universities’ credit
Moody’s Investors Service says it will review most of Illinois’ public universities for potential credit downgrades over the next three months.
The bond credit rating business made the announcement Tuesday, the same day it bumped Northeastern Illinois University’s credit down two levels. Moody’s made the change citing “weakened cash flow” due in part to the state budget impasse. Illinois has been without a state budget for 22 months.
Chicago Tribune: Rauner moves out of governor's mansion during repairs
Gov. Bruce Rauner traded the historic but rundown Executive Mansion for a more modest house on the state fairgrounds on Tuesday as the 162-year-old building is prepared for a major renovation project.
Rauner’s office posted video and photos online of the governor loading bags into the rear of his 1993 Volkswagen van, moving the last few items after crews spent the past several weeks packing antique furniture for storage.
Chicago Sun-Times: Kurt Summers to announce decision on gov race within 2 weeks
Chicago City Treasurer Kurt Summers on Tuesday said he’s spoken with all the Democratic gubernatorial candidates about how they’ll represent the needs of African-Americans, Hispanics and women within their campaigns — and that he’ll announce whether he’s running for governor within the next two weeks.
Summers has toyed with running since last year. He’s conducted two polls, toured the state and met with stakeholders. And he’s planned an April 23 fundraiser in River North. But he’s apparently not quite ready to jumpstart his candidacy.
Chicago Tribune: Judge set to hear arguments on CPS lawsuit over state education funding
A day before a hearing on Chicago Public Schools’ lawsuit against the state of Illinois over education funding, some aldermen on Tuesday complained that they haven’t received any updates on the district’s latest budget crunch.
“Where is Mr. (CPS CEO Forrest) Claypool, where is the (school) board, and when are we going to get an answer about the future of our children?” Ald. Scott Waguespack, 32nd, said at a City Council Finance Committee meeting.
WTTW Chicago Tonight: City Planning Emergency Bailout to Keep CPS Schools Open
Chicago Tonight has learned that the city is looking at contingency plans to prevent an early closing of schools.
Chicago Public Schools is at least $215 million short for the year after a state deal to provide the money fell through. Absent the funding, CPS CO Forrest Claypool has said there wouldn’t be enough money to finish out the year, putting 400,000 kids and their parents in limbo.
WTTW Chicago Tonight: Chicago Activists Call For Action on Elected School Board Bill
Parents and community activists protested outside the Chicago office of Senate President John Cullerton on Tuesday to demand action on a bill that would grant the city an elected Board of Education.
Dozens of representatives from Raise Your Hand Action, Parents4Teachers, the Pilsen Alliance and about a half dozen other community groups went to Cullerton’s downtown office to turn over a letter calling for a vote on HB 1774.
Crain's Chicago Business: Raise your hand if you think city aldermen need more power. Anyone? Anyone?
Raise your hand if you think Chicago aldermen need more power.
If you are one of the very few Chicagoans—and not an alderman yourself—with a hand raised, then good news: A new ordinance introduced to City Council would give aldermen the power to veto any business license application or renewal with the City of Chicago.
Chicago Sun-Times: Aldermen vent at CPS as June 1 closing date draws closer
Chicago aldermen on Tuesday unleashed their anger at being left in the dark as time grows short to solve a financial crisis at the Chicago Public Schools that threatens to cut the school year three weeks short.
The City Council’s Finance Committee took no action on a long-stalled ordinance that would automatically forward to the schools surplus tax increment financing funds in any year when CPS is in financial distress.
Chicago Tribune: From street lights to party buses: Here's what the Chicago City Council will consider today
The City Council holds its monthly meeting today, with votes expected on a major LED streetlight contract, city-issued IDs for immigrants and the appointment of a new deputy inspector general to audit police reform efforts.
Even if the council gives the go-ahead to the $160 million streetlight contract with energy efficiency company Ameresco, precisely how it gets paid for will remain an open question.
Chicago Tribune: Chicago aldermen want their consultants exempt from ethics rules
People working for Chicago aldermen as independent contractors won’t have to disclose who else is paying them, abide by city ethics rules or obey strict limits on outside gifts under a measure the City Council is poised to approve Wednesday.
The unanimous vote triggered a quick rebuke from city Board of Ethics Chairman William Conlon, who called it “a very unhealthy secrecy that they are legislating into the laws of the city.”
Chicago Sun-Times: Ethics chief blasts aldermen for pushing ‘unhealthy secrecy’
The chairman of Chicago’s reinvigorated Board of Ethics on Tuesday accused aldermen of injecting a “very unhealthy secrecy into government for a privileged few” by changing the definition of “city employees” to exclude independent contractors.
At the behest of Ald. Leslie Hairston (5th), the City Council’s Committee on Rules and Ethics approved the change and made it retroactive to Jan. 1.
Chicago Sun-Times: Chicago Police Department’s press staffing draws flak
The city’s violence-torn South Side is practically in tatters.
Mayor Rahm Emanuel admits we need more police on the streets.
Yet Sneed is told the Chicago Police Department has assigned two dozen police personnel to a news affairs office budgeted for only four personnel to handle the media.
“This is hypocrisy,” said City Council Ald. Edward Burke (14th).
Belleville News-Democrat: Will schools again seek sales taxes? It is decidedly so.
With our Magic 8-Ball in hand, there are a few predictions worth pondering after a closer look at by whom and by how much the school construction sales tax questions were rejected April 4 in St. Clair and Madison counties.
You may rely on it that Madison County voters will see the question again. When they were asked six years ago, the proposal failed by 80 percent. This recent effort failed by only 259 votes out of 44,000 cast. Edwardsville area voters favored it even with their own referendum to boost that district’s property tax rate.