Cook County Awards $191 Million in Loans to Bridge Property Tax Payout Gap – Chicago Tribune/Yahoo

Cook County awards $191 million in loans to bridge property tax payout gap – Chicago Tribune/Yahoo

Several south suburban local governments were among the group that requested much more than they got. City of Harvey officials, for example, sought $24 million from the loan program; The county ultimately loaned the city about $1.7 million. CPS did not officially apply for the $109 million leftover in the county's allocated fund, which a CPS spokesperson said was an inadequate amount to meaningfully help with its yawning shortfall.

Cook County awards $191 million in loans to bridge property tax payout gap

Cook County Board President Toni Preckwinkle’s office awarded stopgap loans to 32 villages, library and school districts worth $191 million, an effort to dull the impact of this fall’s property tax delay that nonetheless left many suburban agencies already in dire financial straits with less money than they asked for to help make ends meet.

D65 gets county property tax loan

Evanston-Skokie District 65 asked Cook County for about $68 million but received about $23 million in the form of a stopgap loan issued by the county to cover anticipated delays in property tax payments. The district was the only Evanston taxing body that applied for the program offered by Cook County President Toni Preckwinkle, the board president’s press secretary, Hannah Fierle, confirmed Monday.