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City of Chicago

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Unfunded Pension Liabilities Per Capita for Six Illinois Municipalities

The blogs for this week and next week will examine the long-term obligations of six selected municipalities in Illinois and their overlapping local governments using per capita indicators based on unfunded pension liabilities and bonded…

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City Releases 2013 Annual Financial Analysis: Faces $338.7 Million FY2014 Budget Gap, $1.0 Billion FY2015 Budget Gap

Last week the City of Chicago released its Annual Financial Analysis for 2013. According to an…

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Changes to City and County Parking Tax Structures

As described last week in the Civic Federation’s blog, the Chicago City Council recently approved an ordinance changing the City’s tiered parking tax rates to…

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City's New Parking Tax Rates in Effect This Month

On March 8, 2013, Governor Quinn signed HB5547, which gave home-rule municipalities and counties with populations over 2,000,000 (essentially Chicago…

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Two Chicago Tax Increment Financing District Extensions Part of Economic Development Legislation

As noted in last week’s blog post, two City of Chicago tax increment financing (TIF) districts will be extended for another 12 years if Governor Quinn signs…

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Extending the Lifespan of a Tax Increment Financing District

In the latest session of the General Assembly, the Illinois legislature approved extensions of two Chicago-area…

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Civic Federation Releases Status of Local Pension Funding FY2011 Report

This week the Civic Federation released its annual Status of Local Pension Funding report. The purpose of this report is to compile and analyze basic…

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Status of Local Pension Funding Fiscal Year 2011

Chicago-area public employee pension funding levels dropped significantly in FY2011, with unfunded liabilities for the ten funds analyzed rising to $32.0 billion from $27.4 billion in FY2010, an increase of 16.7% according to the most…

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Chicago Parking Meter Lease Agreement Pending City Council Approval

On Monday April 29th, Mayor Rahm Emanuel announced that an agreement had been reached in the disputes between the …

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City's Quarterly Budget Report Shows Increased Revenues, Exhausted Claims and Judgement Budget

On February 20, 2012 Mayor Emanuel released the City of…