Wednesday, December 3, 2008
News / Clout City It's kind of like taking Cialis...
Posted by Mick Dumke on Wed, Dec 3, 2008 at 7:09 PM
Wednesday’s meeting of the City Council’s Committee on Finance had a single item on the agenda: consideration of an ordinance that would give a private company 75 years of profits from Chicago’s parking meters for $1.17 billion in cash.
But more than ten minutes of the meeting passed before a couple of aldermen interrupted testimony from city officials to ask if they could have copies of the ordinance [PDF].
It’s fair to say that the administration wants quick approval of the deal. And the council appears to be ready to do its part—the committee sent the ordinance to the full council even though even many of its usual go-along-to-get-mine members felt pushed around, taken for granted, and, perhaps worst of all, politically exposed.
Or, as 27th Ward alderman Walter Burnett put it, supporting the ordinance is kind of like taking erectile dysfunction medication: “It’s good on the one hand, but on the other hand it can cause some blindness and some other things that can happen to you.”
In this case, Burnett went on to explain, the “side effects” amounted to heat he and his colleagues were likely to take from angry voters who will have to pay four times as much to park in a metered spot.
“We leave here, and our home is around our constituents," Burnett said to Paul Volpe, the city’s chief financial officer. "They have homes near us, they’re in our churches, they’re in our stores, and we have to live with that.”
Naturally, this being the Chicago City Council, there were plenty of Daley administration cheerleaders who helped make the case that, time frame be damned, this is simply too great a deal to pass up.
“Let me ask you this question,” James Balcer, alderman of the 11th Ward, said to Volpe. “Is there anywhere else we can get $1.17 billion?”
“Not today,” Volpe said.
“Not today,” Balcer said. “Nowhere else we can get a billion.”
And that’s why most aldermen have no choice but to sign off on this deal: they need the money.
They may—and did, and will—complain that the time frame for finalizing it is ridiculously fast, that they’re not being respected as legislators, that parking rate hikes will penalize the residents and businesses in their wards, that the city is selling off too many assets, that the entities taking control of the meters may not be unionized and aren’t registered in Illinois and have an amazingly complicated ownership structure and may have historic ties to slavery and appear to represent everything wrong with Wall Street. . . .
But the administration can answer it all by noting that the council essentially agreed to the lease deal last month when it passed the 2009 budget, complete with a $150 million hole that has to be filled somehow. If not with proceeds from a meter lease, then what?
“Significant tax increases,” Volpe said.
No one wants that. And no one has other ideas, so the administration is able to present this as an either-or: this deal or tax hikes. Or, if you want to think outside the box, cuts to things like heating assistance to the poor.
“This is certainly short order,” 29th Ward boss Ike Carothers barked at Volpe Wednesday. “Briefings yesterday, after a quick call, and I couldn’t attend because it was called ad hoc. And now finance today, and the full City Council tomorrow. What is the urgency?”
A delay in finalizing the deal could cost the city millions of dollars, Volpe said, because interest rates could rise above the historic low point they’re at now. He added: “We’ve been working on this transaction for about a year, so this has not been a hasty transaction on our part.”
“So what you’ve been working on in a year you want us to vote on in two days.”
“We had discussions about this transaction throughout the budget,” Volpe said. “In fact, so much so that we passed a budget that relies on $150 million from this transaction. So I would just point that out.”
Carothers, like several other critics of the deal, left the meeting before it was over.
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NEW SIDEWALK TOLLWAYS TO RAISE BILLIONS FOR CASH-STRAPPED CITY In a bold yet innovative move, City Hall today announced the launch of a new sidewalk tollway system, where pedestrains must pay one dollar per block to walk on sidewalks within Chicago city limits. "This will raise much needed capital for infrastructure improvements," Mayor Daley said. "I think citizens are really going to like this solution. And they're getting a great value!" Pedestrains can purchase a pre-loaded I-Pass for $2,500.00 or can pay the slightly higher rate of $1.25 per city block and wait in longer lines if they choose to pay in cash. Gates and lanes will usher pedestrians smoothly through each tollway and prevent anyone from walking for free. "Chicago really is a great city," said Lincoln Park Trixie. "It's so worth paying more for everything, to live in this filthy, crime-ridden community overrun with corruption and ne'er do wells. Life is really hard here and getting harder all the time! Why would anyone ever want to live anywhere else?"
Tell Alderman Burnett, that the people of Chicago think the definition of masterbation is the City Council! I wonder if Volpe goes to Church on Sundays, he looks like a man struggling with his faith.
Can someone explain who this coconite character is? I was accidentally directed to a web site where it appears he has extended conversations with himself.
He is just a guy who hates Daley and the Chicago Democratic Machine.He was spawned by the Machine ,now he is committed to its destruction.
Your both wrong. I'm a taxpayer that can't stand getting Fucked!
He works in the Suburbs, you know the type. Big money player!
Bill Daley Jr is at Morgan Stanley--the company buying (or leasing) the meters. He says he is a different division but Morgan Stanley got the parking garages too that increased costs for taxpayers. A deal like this means a Daley friend is making money. The city is going bankrupt--you need real cuts not just selling off assets in rushed deals.
Note to Alderman Balcer - regarding your question as to where the city could find a billion-plus dollars: Try asking that tyrant you helped installed as our "Disrace to his Father's Name" Mayor what he plans to do with all of that slush fund TIF money he has!
Let see. 1.17 Billion over 75 years means 15.6 million a year to the city. Peanuts.
Home movie of my son. http://www.wimp.com/kidscare/
" ... several other critics of the deal, left the meeting before it was over." fucking cowards
Mell: Aldermen don't read what they're voting on "I congratulate the mayor on this. Would we like more time? Come on. What do we do? How many of us read the stuff when we do get it? Let's face it. We have it, unfortunately, I know some do -- some do. I try to. I try to. But being realistic, it's like when you get your insurance policy, small print. I trust a lot of my colleagues who do read it in this City Council. I trust they will ask questions, I trust Volpe and the job he's done ... " -Ald. Richard Mell (33rd)
Ocasio prepped by pulled two all-nighters reading blogs Ald. Ocasio's (26th) conception of how to represent is to keep in touch by staying up late at night reading blogs. "I stood up on Tuesday night, Wednesday night, looked at all of the blogs, all the medias, it was hard to find people in support of this." -Ald. Billy Ocasio (26)
public hearings? we don't need no public hearings, we got the internets keep blogging, i guess
I owe lots of money on my mortgage, we do not have time to babysit Mayor Daley. Mayor Daley works in Chicago, Coconate works in the suburbs. I love Mayor Daley.
Mayor Daley took Cialis and just fucked the taxpayers in the ass prison style. These aldercrooks are the stupidest people I have ever seen. The voters who vote for this crook Daley are even stupider because at least the aldercrooks are getting paid. This insider deal with Morgan Stanley and Billy Daley Jr is a disgrace. When downtown is a ghost town (yes we do have a nice thriving downtown and gold coast because of geography, museums, natural beauty, architcture before RMD was born, restaurants, and night clubs)--but downtown retail is suffering (no more Marshall Fields)--many people go to Old Orchard or Oak Brook (just as nice, free parking, cheaper prices) or outlet malls in Wisconsin, Gurnee, Aurora, or for those who think Oak Brook or Yorkville are too expensive there is Ford City, mini malls outside the downtown area in Chicago etc. Downtown retail is suffering, tourism suffered the last 7 years, convention industry suffered, making parking so expensive keeps people away, cutting public transportation keeps people away, shoot outs at Taste of Chicago with poor police response keeps people away--everything is so expensive in Chicago.
I can't really complain about Daley, since I supported him for years!
Voting constantly for Democrats has made me fed up. *wahhhhhhhhhh*
on a 'Roll'! Hugh is an 'AMAZING' "Character" Hugh obviously feels that Hugh has been put on Earth to WHINE,WHINE, WHINE about any and all who serve the public. TO HUGH ALL PUBLIC OFFICIALS ARE BEYOND CONTEMPT,WITHOUT EXCEPTION.-PERIOD........ But here's Hugh , who one can surely say, makes FULL-USE OF THE WEB, criticizing an Alderman, an "Opposition Alderman",no less, for using HUGH'S PREFFERRED media, the Internet ,TO DO WHAT HUGH "CLAIMS TO WANT" done,and WHAT?!, Because the Alderman in question is IN-FACT an Elected Official, Hugh CAN"T STOP HIMSELF from GOING on a VINTAGE Hugh POISON ROLL!
Since he & his boyfriend Tony like it in the ass......
Chicago would be like out of the frying pan right into the fire. Taxes would be MUCH HIGHER, A CITY INCOME TAX-A Reality, Crime at an ALL-TIME HIGH, People being afraid to go out after 5 PM, Businesses LEAVING in DROVES, White Flight returning-Along with Hispanic-Asian-Good Law Abiding Black Flight, Rats running ALL OVER the fucking city, Evaporating White Ethnic enclaves, Destitute Roaming The Streets, Pate Philip & His hardcore GOP boys LAUGHING & GLOATING over Chicago's downfall-While Suburbia becomes a White Haven, Possible disannexations of the 41st-50th-36th-19th-23rd-10th wards from the city-Making Chicago an EVEN gloomier & doomful place.
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