US EditionCity Council passes Mayor Johnson's $830M bond plan
- The Chicago City Council approved Mayor Brandon Johnson's $830 million bond proposal aimed at funding infrastructure projects, which has faced criticism regarding long-term repayment costs.
- The total cost to repay the bond is estimated to be about $2 billion, with principal payments starting in 2045, according to initial estimates.
- Johnson stated, 'This investment comes at a crucial time,' highlighting the need for infrastructure improvements as warmer weather approaches.
- Alderman Bill Conway voiced concerns about the bond's repayment schedule, proposing an alternative ordinance to reduce the bond amount to $400 million.
14 Articles
14 Articles
Chicago Poll: 80% Disapprove of Johnson, Crime Top Issue
In January 2023, shortly before the February Chicago mayoral elections, former Mayor Lori Lightfoot had a dismal 22% approval rating. Current Mayor Brandon Johnson's approval has now sunk even lower, to only 6.6% in the latest poll, as issues such as rising crime concern residents of the Windy City.
City Council passes Mayor Johnson's $830M bond plan
CHICAGO — The Chicago City Council has approved Mayor Brandon Johnson's $830 million bond proposal for infrastructure projects. The 26-23 vote was made during Wednesday's meeting at City Hall, which had a delayed start as the mayor was about 30 minutes late getting to the floor. The bond would help pay for critical improvement to infrastructure across the city, such as the resurfacing of roads and repairing bridges. A bit of an argument occurred…
Controversial $830 million borrowing plan approved by Chicago City Council
A plan to borrow $830 million to finance infrastructure improvements in Chicago narrowly passed the City Council on Wednesday afternoon. The City Council passed the measure by a 26-to-23 margin, approving a plan introduced by Mayor Brandon Johnson to help finance projects that will address infrastructure concerns, roadways and more in the city. Johnson had faced criticism from lawmakers not just about the size of the borrowing plan, but also the…
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