By Steve Rhodes
“Watching Chicago taxpayers being primed for a kick in the teeth is an old story by now, and what happened at City Hall on Tuesday is yesterday’s news,” John Kass writes for the Tribune.
“The teeth-kicking this time hasn’t actually happened yet. That’s news of the future. But we chumbolones know it is inevitable, the teeth skittering on the pavement of the Chicago Way like moist and shiny breath mints.”
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“I don’t trust anybody who tells me they’ve discovered an untapped source of billions of dollars that could be the key to Chicago’s future but can’t tell me how they plan to use it, let alone how to pay it back,” Mark Brown writes for the Sun-Times.
Failure To Grasp The Concept
“Chicago aldermen approved a plan on Tuesday to use private investment money to directly finance city projects. Mayor Rahm Emanuel’s so-called ‘infrastructure trust’ passed 41 to seven after more than two hours of debate,” WBEZ reports.
“The mayor said the city’s infrastructure is crumbling, and with the city holding billions in debt, he needs a new way to pay for the repairs. Aldermen supporting the plan listed specific ways to use that money.”
“I could use this tool to expand and improve upon the DuSable Museum,” Ald. Willie Cochran of the 20th Ward suggested.
Only if a museum is deemed “infrastructure” and admission fees are raised to cover the cost of the investment plus interest on the loan and a profit margin worth the funders’ time.
“The economic health and vitality of my ward depend on the health and vibrancy of the Red Line,” 49th Ward Ald. Joe Moore more than hinted.
That’s nice. But only a new extension would qualify for trust money according to the mayor, and those using it would have to pay a much higher fare than on the rest of the line to cover the cost of the investment plus interest on the loan and a profit margin worth the funders’ time.
“Lathrop Homes, as some of you know, is a housing project in the First Ward along the Chicago River,” said Ald. Joe Moreno of the 1st Ward, offering another destination for the money.
And just how is that supposed to deliver profits to private investors? Haven’t any of you been paying attention?
Treasure Hunt
“Middle- and upper-income Chicagoans scramble to get their kids into Chicago’s top high schools, turning to test prep, private tutors, and educational consultants.
“If their kids don’t get in, for many it’s private school or the suburbs.
“But Chicago has another set of high-quality high school programs – considered gems of the district – that middle-income parents have rejected. WBEZ looks at why.”
Meet Tim Russert
The set of Meet The Press arrived at the Museum of Broadcast Communications here this week.
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Here’s what the exhibit won’t tell you.
Organ Grinder
“An unused musical instrument at La Salle-Peru Township High School has been found to be one of the school’s most precious items,” the LaSalle News-Tribune reports.
“How precious? Experts say the organ by today’s standards is valued at more than $1 million.”
Shoot To Thrill
We Now Join Thrill Jockey’s 20th Anniversary Celebration In Progress.
Chicago’s Very Own
In Fantasy Fix.
Chicago’s Merchant Of Menace
We smell reality show.
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The Beachwood Tip Line: Press meet-up.
Posted on April 25, 2012