Mayor Brandon Johnson announced a planned $1.25B bond issuance to restructure the city's approach to equitable neighborhood development. “These bond proceeds will provide the City with much-needed resources to invest in our neighborhoods,” Johnson said in a press release. “This new direction will allow for greater flexibility than the City’s Tax Increment Financing program and provide critical assistance for new businesses, restaurants, affordable homes, and cultural facilities where they’re needed most — not just where there’s a healthy TIF district.” 
If the Chicago City Council approves the plan, the bond would provide $250M for community improvements throughout the city annually for five years, from 2024 to 2028, according to a city press release. City departments would have fewer barriers to using the proceeds, with a reduced focus on geographic boundaries, eligible costs and market-driven variables, the… Read the full story here. | 
