Rahm Finds Another $92 Million
Revealed by who else? Ben Joravsky at The Reader again:
- Hey, Chicago . . .
While your kids were sweltering in the heat of schools that can't afford air conditioners, or ducking bullets fired by gangbangers who operate more freely because we can't afford police, Mayor Emanuel was coming up with $92 million to spend on something you don't want.
In this case, the South Loop project at Cermak and Michigan that will feature a DePaul basketball arena and a Marriott Hotel. The $92 million will come out of the good old tax increment financing slush fund, which is like a magical drug for creating new money for the mayor to waste.
Good thing he supposedly reformed it.
And crap like this really ought to irritate everyone when you have articles like this appearing in the media:
- Chicago homeowners and businesses would face annual property tax increases to solve the city’s pension crisis — but a balloon payment to shore up police and fire pensions would be put off until 2022 — under legislation backed by Mayor Rahm Emanuel that is drawing fire from all sides.
Fraternal Order of Police President Mike Shields flatly declared that the bill introduced at the close of the spring legislation session by Senate President John Cullerton (D-Chicago) stands no chance of passing because police and fire unions will work to defeat it.
In 2015, the city is required by state law to make a $600 million contribution to stabilize police and fire pension funds that now have assets to cover just 30.5 and 25 percent of their respective liabilities.
Rahm pleading poor with one hand while finding tens of millions for certain things, hundreds of millions if you add in the other magically funded TIF projects.
An entire team of forensic accountants would have to work for a decade just to unravel all the shit Daley hid and Rahm is distributing.
An entire team of forensic accountants would have to work for a decade just to unravel all the shit Daley hid and Rahm is distributing.
Labels: money questions, pension
posted by SCC at 12:03 AM
37 Comments:
Rahm's pockets are full of stolen taxpayer money...no surprise. Elect him again, you fools...
Less and less police and fire protection, but money for this and Maggie's park and other things. This money would go a long way to pay what the city has neglected to pay into the city pesion funds since Richie got elected.
Phil Hickey retired Chicago Police.
It seems that the apple pie keeps getting smaller and smaller, and more and more people want a slice out of that pie.
Yeah, Rham. I got an idea. Why don't we just change the pension fund into a TIF fund just to make it easier to take that money too.
Everything Rahm Emanuel is doing now to screw the people will come back to haunt him when he runs for president someday.
He has zero chance to be president!!
DePaul and the Beverly Art Center dont need one dime oftaxpayer money.
If he doesn't make the payment, why can't he be arrested?
If Barry could be elected so could a tomato.
Rahm will have no problem.
So,Rahm will raise property taxes,because of the greedy employes,but he won't use the money for pensions.
When Rahm runs for president, he will have to beat out Hillary in primary. Then he will have the whole nation voting for him. however Chicago votes won't make a hill of beans. Besides, bye than all will be forgiven.
If you are not registered to vote take 1/2 an hour and do it ,if not stop bitching.
I heard that City Hall took delivery of ten industrial heavy duty paper shredders, capable of going 24 hours a day, the DOD standards secure small cross cut type. Wonder what they need those for?
In the meantime this sample of elementary schools:
BRIDGE: 1030 students, 480 ideal capacity, 215% status: overcrowded (has Jr. High Branch on Addison )
· CANTY: 799 enrolled, 540 ideal capacity, 148% status: overcrowded
· DEVER: 844 enrolled, 630, 134% status: overcrowded
· DIRKSEN: 785 students, 540 ideal capacity, 145% status: overcrowded
· EDISON PARK : 453 enrolled, 300 ideal capacity, 151% status: overcrowded (Annex addition in the process)
· GARVY: 772 enrolled, 690 ideal capacity, 112% status: efficient (Has addition now)
· LOCKE: enrolled 1323, ideal capacity 930, 142% status: overcrowded (Has addition now plus 4 modulars)
· THORP: 832 enrolled, 750 ideal capacity, 111% status: efficient
· ONAHAN: 660 enrolled, 480 ideal capacity, 138% status: overcrowded (Has Annex addition now also has multi- purpose room addition as a lunch room)
· ORIOLE PARK: 652 students enrolled, 390 ideal capacity, 167% status: overcrowded (Annex addition in the process)
· SAYRE: enrolled 592, ideal capacity 660, 90% status: efficient
· WILDWOOD: 420 students enrolled, 240 ideal capacity, 175% status: overcrowded (Annex addition money granted 9/16/13)
I give a fuck. I retired and fled that shithole to a much safer and comfortable place. My kids go to a great public school and gas is much cheaper out here in the western suburbs. I enjoy my hard earned pension check the fact that I dont spend any of it in that dump. I never thought I would leave the city I use to love but I made the move and discovered that life outside Shitcago is WAY better than life inside Shitcago.
Get out when you can POs. You won't regret it
I/F.
The city has plenty of money, huge amounts all hidden in slush funds, don't let the rahmster bullshit anyone! What about the forensic audit rahm talked about doing when he was running? What happened with that?
Hope the federal arbitrator is watching this?
92 million for a basketball arena plus 50 million for a maggie daley park can be put off indefinitely.
i didn't vote for any of that shit.
let rahm and richie pay for pet projects.
Rhahm could be prezz or at least Hillary s vp. A lot of people like th e fact he fucked the teachers and police
. Some people don't believe a person should get a 70 thousand a year life time pension for telling 12 year olds that balboa discovered the pacific ocean
This is a great city if you don't have to live here.
Now, kees me you fool!!!!
Make no mistake about it, unless we have pension reform and soon, the pension funds will dry up in 10 years or so . Rahm is stalling because he wants to be reelected and does not want to raise property taxes. He is trying to reverse the 2010 law to stall funding the police/fire pension funds. If he is successful in this, the funds might hit the point that they cannot be saved. Rahm is taking the stance that the funds stand alone and when they are out of money he does not have the obligation to shore them up. That issue would be in court, but in the meantime a lot of retires will be bankrupt. The FOP must fight his actions every step of the way and get the city to fully fund pensions.
Anonymous said...
Rahm's pockets are full of stolen taxpayer money...no surprise. Elect him again, you fools...
9/27/2013 12:11:00 AM
And who would you elect to that office that would be any different? Rahm, despite his faults, is the best person right now to save the city from future default.
You must realize, that you can always get more people, matter of fact there is a over abundances of people, so why spend money on them
Seems like Rahm gives the green light to raise the CPS share of the property taxes to the max, but holds the line on the City of Chicago share. What makes it worse is the CPS share is 51% of the total tax bill
Since taking office more than two years ago, Emanuel has held the line on property taxes while giving the Chicago Public Schools the green light to raise property taxes to the maximum allowed by law.
The mayor is expected to do the same in the 2014 budget he is scheduled to unveil in late October, well aware that annual property tax increases will soon be needed to solve the city’s pension crisis.
Rahm the magic genie speaking hail the king!
http://www.youtube.com/watch?v=X3kfU0CKIvY
Rham put the $600M into the pension funds in 2015 as required by law already. I am in the real estate business and I see how much real estate taxes are in the burbs and they are typically higher depending on the area/house, etc.. I always hear people say if the city lifts the residency requirements then there will be a mass exodus to the burbs. Really? Half these homes I go to when I look at the taxes I about shit myself. So on another note there would NOT be a mass exodus by city employees to the burbs and the city should have had it's tax based raised long ago. I live in Beverly and my taxes haven't gone up in 12 years. Do I want an increase? Of course not but the city needs to do what it has to do already. Quit kicking the damn can already, Rham.
Every blog story is about the tiny dancer everyone bitching and complaining the same people who voted for him and will vote for him again when he stays r mayor after the next election. You all voted for him that's what u get now suffer the consequences idiots
"He has zero chance to be president!!"
__________________
Really?
Rahm is a master spinner and at his age, he can afford to wait it out.
Besides, doesn't he have Robert Redford preparing a film about what a great guy he is?
youtube -- rahm gets boo'd at st. sabina photo-op
http://www.youtube.com/watch?v=ck4fTU7QEuQ
the so-called great job and opportunity creator -- oh yeah, the leader of choose chicago. does rahm even choose chicago -- hell naw
a half-billion dollars of city taxpayer money going to a california company to install the ventra fare card systen on cta buss's.
then he rubs it in the taxpayers faces how the ventra system is going to save millions of dollars by eliminating 100's more jobs in this city. brilliant eh...
job creator my ass.
-- --- --- --- ---- ---
via the chicago reader...
[...]..
Sorry, Mr. Mayor.
I certainly understand why a crowd on the south side would want to boo him.
Mayor Emanuel owes his election to Chicago's black voters, who gave him more than 50 percent of their votes. Saint Sabina itself is in the 17th Ward, where the mayor received 60 percent of the vote.
And yet the mayor's budget cuts have hit hardest at the black wards, a point I may have mentioned before.
At times it seems he actually relishes firing teachers, mental health workers, and other public employees who form the backbone of the south- and west-side middle class.
He calls it reform that's necessary to save Chicago from a budget catastrophe.
As opposed to economic development, which is what he calls doling out tens of millions of TIF dollars to his wealthy cronies for projects that no one particularly needs or wants. Like this and this.
I mean, it never ends. For instance, it wasn't enough for the mayor to brag about the CTA's new Ventra system. No, his CTA appointees had to brag that Ventra enables them to save $13 million by firing 104 employees.
Meanwhile, the CTA's giving a $454 million contract to Cubic Transportation Systems Inc., a company based in San Diego, to implement and oversee Ventra.
So the company in San Diego gets the hundreds of millions. And the workers in Chicago get the pink slips.
Just the other day, I wrote about the mayor earmarking $92 million in property taxes for his DePaul basketball arena/Marriott hotel boondoggle.
That's $92 million that's skimmed from the property taxes you pay for the public schools, including Simeon High, where the great Derrick Rose once starred.
If the mayor would only take that $92 million and invest it in the Simeons of Chicago, he might be hearing cheers, not jeers, coming from the stands.
read the entire piece...
http://www.chicagoreader.com/Bleader/archives/2013/09/27/at-saint-sabina-basketball-and-boos-for-mayor-rahm
we got a mayor that's exporting jobs and chicago money to calif. and a gov outsourcing six-figure jobs to india via the h-1b visa program..
...and you wonder why illinois has the 2nd highest unemployment rate in the country.
...you wonder why there's no tax revenue to fund pensions.
...keep voting them in and get more of the same. prepare thyself for another 10k on food stamps in illinois next month.
when they cut the pension we can all be on the food stamp program in retirement and listen to them complain that we are buying sugary soft drinks with our pension money living high on the hog.
Taxes are a lot higher in the burbs. six to 10 thousand a year is not out of line, and you pay plenty for garbage pickup and water in addition. A lot of property taxes in parts of Tinley leading into Will county are 10-11 grand a year. Do you get more in the way of housing? Yes, for the most part the homes are bigger, but the commute is a lot longer with snarling traffic all of the way. You cannot walk anyplace and must drive as there is no public transportation. And complaining that the public schools in Chicago are 51% of the taxes, but in most burbs they are 65% of the taxes. The teachers and administrators are very well paid, a salary and benefits structure that would make most Chicago cops trade pay scales not to mention the 3 months off each summer. Fire personnel in the burbs make much more then Chicago firefighters, much more > Rahm could and should raise property taxes to fund pensions while working on reform, but he will not and he will not comply with the state law. He will fight it. It seems liberal democrats only comply with the laws that they agree with.
don't be surprised if you see a casino there in the near future either
Anonymous Anonymous said...
Anonymous said...
Rahm's pockets are full of stolen taxpayer money...no surprise. Elect him again, you fools...
9/27/2013 12:11:00 AM
And who would you elect to that office that would be any different? Rahm, despite his faults, is the best person right now to save the city from future default.
9/27/2013 10:04:00 AM
Oh, just go away.
It's hard to fathom, but there are probably one or two (or forty or fifty) other Chicagoans capable of running this city a whole lot better - and CLEANER - than this political, self-absorbed, social-climbing manipulator.
Oh, just go away.
It's hard to fathom, but there are probably one or two (or forty or fifty) other Chicagoans capable of running this city a whole lot better - and CLEANER - than this political, self-absorbed, social-climbing manipulator.
9/27/2013 09:52:00 PM
Why, yes! You are correct. But these other " qualified" individuals will not run, just as none of them ever ran against Daley. Only incompetents like bobby rush and carol braun run. Very few people with good business acumen want to take on the job of going against the democratic machine or actually take the stressful and unforgiving job of mayor and run the city correctly.
Taxes are a lot higher in the burbs. six to 10 thousand a year is not out of line, and you pay plenty for garbage pickup and water in addition. A lot of property taxes in parts of Tinley leading into Will county are 10-11 grand a year. Do you get more in the way of housing? Yes, for the most part the homes are bigger, but the commute is a lot longer with snarling traffic all of the way. You cannot walk anyplace and must drive as there is no public transportation. And complaining that the public schools in Chicago are 51% of the taxes, but in most burbs they are 65% of the taxes. The teachers and administrators are very well paid, a salary and benefits structure that would make most Chicago cops trade pay scales not to mention the 3 months off each summer. Fire personnel in the burbs make much more then Chicago firefighters, much more > Rahm could and should raise property taxes to fund pensions while working on reform, but he will not and he will not comply with the state law. He will fight it. It seems liberal democrats only comply with the laws that they agree with.
Rahm has not raised the City of Chicago property tax which makes up about 18% of your total tax bill, but he has ok'd the CPS to raise their taxes and tax levy each year by the max allowed by law. Chicago public schools also make up over 50% of your tax bill so you can see he is taking care of the teachers and not us. Not to mention we pay 9% of our salary into the pension , teachers actually only pay 2% into theirs as the CPS pays the other 7%. Not a bad deal for the CPS, but them again they deserve it for providing a quality education to the citizens of Chicago
Heh... Comments closed on scum-times online.
May you whores be reduced to living in squatter camps along the South Branch and may your children have to catch river rats to pad the pork n'beans with...
The same fate you so fervently want to see Policemen and their families afflicted with...
The Police are the enemy...
Viva Hate.
boy this guy knows how to dig
future pulitzer prize in the making?
I read somewhere save a round for the last liberal. so true.
"...Rahm is the best person to save the city from any further default..."
Please report to Random Drug Testing, 3510 S. Michigan Avenue.
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