[Chicago’s] Chief Financial Officer Lois Scott reminded council members that absent significant changes to pension plans, the city will be forced to drastically cut services, raise taxes or do both to close a funding gap that could reach $700 million in just a...
Mayor Rahm Emanuel’s plan to have five financing giants bankroll $1.7 billion in Chicago infrastructure projects ran into opposition Monday from aldermen concerned about “hidden fees” and long-term leasing of city assets. During closed-door briefings with aldermen,...