After Detroit: How will Illinois and its Communities Respond? 2014 Forum Agenda

After Detroit: How will Illinois and its Communities Respond?

Wednesday, April 23, 2014
8:00 a.m. to 1:30 p.m.
Federal Reserve Bank of Chicago
230 South LaSalle Street
Chicago, Illinois

For a synopsis of the event, click here.

Welcome and Opening Remarks
William Testa, Vice President, Federal Reserve Bank of Chicago

Robert Inman, Wharton School -- University of Pennsylvania
Lessons from Past Fiscal Crises: New York and Philadelphia

Session I — Chicago: City at the Turning Point
Speakers discussed recent budget, revenue and pension trends for the City of Chicago with a focus on the City’s financial future. In addition to presenting the perspective of Chicago’s Chief Financial Officer and the rating agencies, the panel discussed the fate of pension reform initiatives around the country and how they might inform any legislation to change City pension benefits.

Moderator: Sarah Wetmore, Vice President & Research Director, The Civic Federation


Session II — To Intervene or Not to Intervene: How States are Helping and Hindering Local Governments
Speakers discussed the different structures and policies states have used to assist local governments in crisis or avoid fiscal decline in the first place. Both the national perspective and a specific proposal for an Illinois authority to assist local governments were presented along with trends in the structure and amount of local government revenue.

Moderator: Rick Mattoon, Federal Reserve Bank of Chicago


Keyonote Speaker
John Hill, Chief Financial Officer, Detroit, Michigan
Charting Detroit’s Future and Lessons Learned from the City of Washington’s Fiscal Crisis

Laurence Msall, President, The Civic Federation