Chicago Mayor Brandon Johnson is expected to introduce a proposal at Wednesday's City Council meeting to borrow $1.25 billion. This plan, aimed at funding affordable housing and other development projects throughout the city, marks the mayor's first major development initiative. The proposal, first reported by Crain's, includes letting dozens of the city's controversial TIF districts expire, a move that has sparked discussions about the future of city financing and development. The borrowed funds are intended to support a wide range of projects, including climate goals and the expansion of affordable homes and job opportunities, particularly in the South and West sides, over the next five years. This ambitious plan is part of Johnson's efforts to address the city's housing needs and economic development while managing the city's financial resources.
Chicago Mayor Brandon Johnson asks to add $1.25 billion to city’s massive debt https://t.co/wsfCVPmUZi https://t.co/wsfCVPmUZi
Chicago should 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 in neighborhoods that have suffered disinvestment, Mayor Johnson proposed. https://t.co/9dirGAIYAd
Mayor Brandon Johnson said his $1.25 billion bond proposal is "about us investing" in the South and West sides. https://t.co/xv10viCSMn https://t.co/OdNLCaGskC
Not sure how this adds up - city will get less than a quarter of the increment if these TIFs expire: Mayor Brandon Johnson pushes borrowing $1.25 billion for neighborhood development https://t.co/hHrwYtbtdy
Mayor Brandon Johnson pushes plan to borrow $1.25 billion for housing, development and climate goals https://t.co/0ZVuMVg2Ie
To stave off a “significant shrinkage” in the city’s available pool of money, Mayor Brandon Johnson’s administration Wednesday rolled out a new $1.25 billion borrowing plan to help fund a slate of progressive housing and economic development initiatives. https://t.co/UoQkQjybU3
Mayor Brandon Johnson pitches borrowing $1.25 billion to fund affordable housing and other development projects throughout the city — marking his first major development proposal as a freshman mayor. https://t.co/QhRea1flUt
#Chicago Mayor Brandon Johnson is expected to introduce a plan at Wednesday’s City Council meeting to borrow $1.25 billion to fund affordable #housing and other development projects throughout the city, marking the mayor's first major development proposal. https://t.co/CBUhuioCM6
City Council meeting is coming to order. On the agenda for today: confirmation of new @ChicagoDOH commissioner, @mattoshea19’s dollar store ordinance and the $1.25B borrowing plan proposed by @ChicagosMayor. 1/ https://t.co/fTvffM751g
The mayor’s plan to borrow $1.25 billion for affordable housing would mean the end of TIF districts. https://t.co/CFH0Suzpbb https://t.co/y4cvRbncUd
Mayor Brandon Johnson pitches borrowing $1.25 billion for housing and development. https://t.co/0woUWc5wF3 @MariahWoelfel @Tessa_Weinberg @WBEZ
New: Mayor Brandon Johnson is expected to introduce his $1.25 billion borrowing plan tomorrow. More details on the plan that relies on letting dozens of the city’s controversial TIF districts expire: https://t.co/w59dsUbRW4 w/@MariahWoelfel
Chicago Mayor Brandon Johnson plans to introduce a proposal to borrow $1.25 billion at Wednesday’s city council meeting, in part to fund affordable housing and other development projects. Story w/ @Tessa_Weinberg (and first reported by Crain’s @jus10chi) https://t.co/3zhEjWCeUR