A real estate investment deal arranged by a firm that employed former Mayor Richard M. Daley’s nephew has dealt a blow to Chicago’s cash-strapped pension funds, underscoring the need for a 401(k)-style alternative.
by Kate Piercy Mayor Daley went forward with his plans to use TIF reserves in order to “balance” his proposed FY2011 budget, leaving it to his future replacement to tackle the inherent problems that led the city into a deficit in the first place. Balancing the budget is important, but TIFs were not created to be used...
Illinois students could soon benefit from scholarship money to help them find a tutor, attend ACT or SAT prep sessions, pay tuition, get special education services or assist with other academic needs. That will happen in Illinois only if Gov. J.B. Pritzker lets the state’s schoolchildren benefit from the Federal Scholarship Tax Credit program, established...