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City treasurer proposes abolishing $57M Catalyst Fund to avert midyear layoffs

Summary by Usa News
City Treasurer Melissa Conyears-Ervin wants to disband a fund created a decade ago to jump-start development in South and West Side neighborhoods, and use the remaining $57 million to prevent the city’s midyear budget shortfall from triggering police and fire department layoffs. Even before confronting the $1 billion hole in next year’s budget, Chicago faces a $90 million midyear shortfall after alternative revenue approved over Mayor Brandon Jo…

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Chicago Sun TimesChicago Sun Times
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City treasurer proposes abolishing $57M Catalyst Fund to avert midyear layoffs

The fund was included in then-Mayor Rahm Emanuel's 2017 budget as a way to bridge the funding gap between Downtown and the rest of the city. But the fund never generated a penny of outside investments.

·Chicago, United States
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Chicago Sun Times broke the news in Chicago, United States on Monday, August 10, 2026.
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