Overall, the mayor's borrowing plan would cost the city $2.4 billion through 2061.
CHICAGO -- The Chicago City Council on Friday approved Mayor Brandon Johnson 's plan to borrow $1.25 billion over the next five years to fund affordable housing projects and other economic development efforts across the city.The 32-17 vote came only after multiple failed attempts by some aldermen to further increase the amount of City Council oversight over the plan, after had previously Johnson agreed to give them more control over specific projects.
Not just because it's our role as legislators to appropriate, but because the public then would get to see these projects before they're approved,' he said. 'These aren't our dollars, this isn't play money, this money belongs to the taxpayer.'Ald. Anthony Beale said he supports the mission of the mayor's borrowing plan, but couldn't support it without the lower threshold for City Council approval of individual projects.
Chicago City Council Brandon Johnson Affordable Housing
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mayor Brandon Johnson's chief of staff Rich Guidice to retireRich Guidice, the chief of staff for Chicago Mayor Brandon Johnson, announced he will retire at the end of March.
Read more »
Mayor Brandon Johnson's chief of staff Rich Guidice announces retirementMayor Brandon Johnson's Chief of Staff Rich Guidice announced he will be retiring, the mayor's office said Thursday.
Read more »
Rich Guidice stepping down as Mayor Brandon Johnson's chief of staffJohnson's office confirmed Guidice is leaving at the end of the month.
Read more »
Mayor Brandon Johnson's chief of staff Rich Guidice to retireRich Guidice, the chief of staff for Chicago Mayor Brandon Johnson, announced he will retire at the end of March.
Read more »
Chicago Mayor Brandon Johnson's Chief of Staff retiringMayor Brandon Johnson's chief of staff, Rich Guidice, is retiring.
Read more »
Alderpersons, activists urge Mayor Brandon Johnson to halt migrant evictionsA coalition of 21 alderpersons, seven other elected city officials, and representatives from 48 community organizations is asking the mayor to address migrant stays on a case-by-case basis.
Read more »