In a significant move to bolster affordable housing and economic development, Jacksonville and Chicago mayors have put forth ambitious proposals. Jacksonville Mayor Deegan has proposed an initiative aiming to secure $10 million for affordable housing. Concurrently, Chicago Mayor Brandon Johnson has introduced a plan to borrow $1.25 billion over the next five years. This funding is intended to support a broad range of projects, including the expansion of affordable housing and the creation of good-paying jobs. The proposal has garnered support from the Civic Federation and is currently under review by the City Council and the Committee on Finance, which is set to hold its second subject matter hearing on the matter shortly. A revised version of Mayor Johnson's plan, which includes a key addition, recently underwent thorough scrutiny during a City Council committee hearing.
Chicago Mayor Brandon Johnson wants a $1.25B bond to pay for affordable housing and economic development https://t.co/YDrEWuEyL6
A revised version of Mayor Johnson's plan to borrow $1.25 billion to spur affordable housing and economic development projects was unveiled Thursday, though a key addition to the proposal sparked lengthy questioning at a City Council committee hearing. https://t.co/PGSUzzOqH2
A proposal from Mayor Johnson to borrow $1.25 billion during the next five years to fund a wide-ranging slate of projects designed to expand the supply of affordable homes and good-paying jobs won the backing of the Civic Federation. https://t.co/UAqPmpeamR
Chicago Mayor Brandon Johnson pitched more City Council say over projects funded by his $1.25 billion borrowing plan. https://t.co/0kxmdSpCSp
The Committee on Finance will soon hold its second subject matter hearing in a few weeks on @ChicagosMayor's $1.25B Housing and Econ. Development Bond proposal. 1/
Jacksonville affordable housing initiative could gain $10 million under Mayor Deegan’s proposal https://t.co/txotX1CPur