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Chicago Tribune: Gov. J.B. Pritzker's administration considering selling state buildings and land to pay for pensions
Gov. J.B. Pritzker’s administration issued a plan Thursday to deal with Illinois’ chronically underfunded public pensions that called for injecting more cash from a proposed graduated income tax, spreading payments out over a longer period, adding $2 billion in debt and selling state assets that could include the Illinois Tollway.
But the plan, which Deputy Gov. Dan Hynes unveiled at a meeting of the City Club of Chicago, also raised many questions.
WBEZ: Pritzker Eying Borrowing, Long-Term Repayment Extension As State Pension Fixes
A top aide to Illinois Gov. JB Pritzker outlined plans to borrow and extend a mid-century funding deadline Thursday as part of a new push to confront the state’s massively underfunded pension systems.
The Pritzker administration also pledged to devote a portion of the proceeds from a proposed graduated income tax to the state’s retirement systems, though that vow is contingent on legislative and voter approval next year.
Crain's Chicago Business: Sale of Thompson Center edges ahead
Illinois Deputy Gov. Dan Hynes confirmed that Pritzker plans to sign Senate Bill 886, which would authorize the state to move its offices out of the Helmut Jahn-designed building at 100 W. Randolph St. and into the state-owned Michael A. Bilandic building across the street. The bill also would set procedural requirements for the state to sell the 17-story building and provide the city guarantees about continued operation of the Clark/Lake CTA station connected to the building.
Chicago Tribune: Illinois House votes to raise minimum wage to $15 by 2025; Gov. J.B. Pritzker expected to sign it
Illinois Democrats on Thursday voted to raise the state’s minimum wage to $15 per hour by 2025, a move that will give Gov. J.B. Pritzker an early political victory, grant pay raises to workers and upset businesses across the state.
Under the plan, the Illinois minimum wage would first rise from $8.25 per hour to $9.25 on Jan. 1, then gradually increase every year until it hits $15 per hour six years from now. Calls to have a higher minimum wage near Chicago than Downstate were ignored, so the plan approved Thursday would take effect statewide.
State Journal-Register: Bill aimed at paring Madigan’s power stalls in House subcommittee
A bill intended to rein in House Speaker Michael Madigan’s outsized role in state politics was rejected by Democrats in a House subcommittee Thursday.
The measure, sponsored by Rep. Margo McDermed, R-Mokena, would have prohibited anyone who is the leader of a legislative chamber from serving simultaneously as a state party chairman.
Northwest Herald: McHenry County business owners fear layoffs, higher prices with new minimum wage
Tom Yucuis, owner of Butcher on the Block, said he employs more than 35 people, several of which are high school and college students, during peak times of the year.
But with the state’s minimum wage expected to grow to $15 an hour by 2025 after Senate Bill 1 passed in the Illinois House on Thursday, Yucuis said he foresees a devastating effect to small businesses.
Crain's Chicago Business: Emanuel, Pritzker renew Amazon push
In a joint letter today addressed to “Dear Amazon,” Emanuel and Pritzker said whatever happened in the Big Apple, “We want to assure you that Chicago, our surrounding communities and the state of Illinois remain ready to welcome HQ2 to our city, and to ensure a smooth and successful transition and launch.”
Chicago Tribune: Google will expand finance team to Chicago, adding 'hundreds' of jobs
Google plans to create “hundreds” of new jobs in Chicago this year, expanding the office it already calls its Midwest headquarters.
The tech giant employs more than 1,000 people at its Chicago office, which opened as a sales outpost in 2000 and has grown to include engineers and other tech workers. The new jobs are a result of the company’s decision to expand its finance team here as well, said Rob Biederman, head of government relations and public affairs for Google in the Midwest.
Chicago Sun-Times: Judge expected to decide by next week whether to toss Obama Center lawsuit
A federal judge said he will decide by early next week whether to toss a lawsuit challenging plans to build the Obama Presidential Center in historic Jackson Park.
Even if he doesn’t, he clearly plans to speed it toward a resolution.
Chicago Tribune: Chicago Park District calls Friends of the Parks report on inequality 'inaccurate,' 'incendiary,' 'divisive'
The Chicago Park District used its monthly board meeting to defend itself against claims of inequity, using capital letters and a bright red font.
Chief Diversity Officer Jessica Maxey-Faulkner presented a slideshow at Wednesday’s meeting in response to a scathing December report from the city’s largest park advocacy and preservation group, Friends of the Parks. The report said the Park District has neglected black and Latino neighborhoods, and found one North Side park region has almost four times as many programs as a South Side park region of similar size and population.
Chicago Tribune: Think the shutdown of northbound Lake Shore Drive was bad? Will County bridges are even more alarming.
The discovery of cracks in steel beams along Lake Shore Drive this week raised alarms about other problem bridges.
Two of the worst bridges in the state are along I-80, crossing the Des Plaines River in Joliet, a rapidly developing area in Will County with heavy interstate truck traffic and distribution centers for companies like Amazon and Dollar Tree.
Bloomington Pantagraph: Bloomington suspends controversial business registration fee
Bloomington City Manager Tim Gleason is suspending the city’s controversial business registration program.
The matter will come before the City Council for formal approval on Feb. 25, Gleason said. The council OK’d the program in October.