CHICAGO | Politics and Current Events

[Randomguy34]

Sterling Bay thinks Brandon Johnson will be more pro-development than Lightfoot was.

Mayor Lori Lightfoot “put a brake on our entire project,” he said in an interview Monday, adding that that the delays set the project back by three years. “She fought the development, which is so puzzling to me because the economic impact in terms of construction jobs, permanent jobs and the ability to compete with some other cities. It’s in the $8 to $10 billion if you add it all up.”
....
“It’s absolutely fair to say that if Rahm Emanuel was still mayor, we might have eight cranes up in the air in Lincoln Yards right now,” he said.
....
Gloor is optimistic that the project will take off when Mayor-elect Brandon Johnson takes over next week. Sterling Bay still needs to receive more permits, including those for infrastructure.

“I can’t say enough just of my initial meetings with Brandon and his team,” he said. “I’m super encouraged that he understands the importance of these large developments for Chicago.”

https://www.bloomberg.com/news/artic...ds-after-delay

[ardecila]

That's very surprising considering how resolutely the CTU crowd hates Lincoln Yards.

But it does make me glad I voted for Brandon, if he's gonna be his own man and not necessarily stick to the CTU party line. The things he wants to do in the city will take money, and lots of it. He'd be wise not to kill the golden goose, and instead make it as as fat as possible.

Gloor blaming Lightfoot seems a little too convenient, though... scapegoat the lame duck mayor that everyone already hates, not the global pandemic, supply chain issues, a lack of investor confidence, etc. Is the problem that her administration never approved the infrastructure permits, or is it that Sterling Bay didn't want to spend big bucks on infrastructure with no hope of a quick profit? Remember, Lightfoot stuck her neck out in the early days of her administration and did not kill the project when many progressives were demanding it. And she's stubborn enough that I doubt she changed her mind.

[sentinel]

^Lol

[left of center]

Originally Posted by ardecila

... if he's gonna be his own man and not necessarily stick to the CTU party line.

This will really make or break his mayoral tenure. The CTU would not bat an eye if the entire city crumbled to dust so long as it got all of its impossibly unsustainable and ridiculous demands met.

Johnson said that he would be a mayor for all Chicagoans. Starting next week, I suppose he will have the opportunity to put his words into action.

[jtown,man]

Originally Posted by SamInTheLoop

^^ ^ A million times this.

The cultural, institutional rot within the CPD is an intergalactic disgrace.

Is it beyond reform?

Are we talking about the police or teachers union?

[Via Chicago]

Originally Posted by ardecila

That's very surprising considering how resolutely the CTU crowd hates Lincoln Yards.

But it does make me glad I voted for Brandon, if he's gonna be his own man and not necessarily stick to the CTU party line. The things he wants to do in the city will take money, and lots of it. He'd be wise not to kill the golden goose, and instead make it as as fat as possible.

Gloor blaming Lightfoot seems a little too convenient, though... scapegoat the lame duck mayor that everyone already hates, not the global pandemic, supply chain issues, a lack of investor confidence, etc. Is the problem that her administration never approved the infrastructure permits, or is it that Sterling Bay didn't want to spend big bucks on infrastructure with no hope of a quick profit? Remember, Lightfoot stuck her neck out in the early days of her administration and did not kill the project when many progressives were demanding it. And she's stubborn enough that I doubt she changed her mind.

do you all really think this is really Gloor relaying Johnson's actual thoughts and beliefs, or is it oh i dunno, an exercise in PR in an effort to shore up support for a development that has stalled and likely wont have a friendly administration.

i mean the proof will be in the pudding but nothing Johnson has campaigned on leads me to believe he will be an advocate for Lincoln Yards style development, or pro development in general

[ardecila]

It's obviously PR, but I don't think they would be saying Brandon is supportive if he's hostile.

Why put words in the mouth of a brand new mayor whose continued support you desperately need?

[Via Chicago]

i mean sure - but you framed it as:

That's very surprising considering how resolutely the CTU crowd hates Lincoln Yards.

when this is a PR ploy from a developer behind that project, as a opposed to a policy position being released by the elected figure in question. theres nothing to be surprised about here because nothing was actually said aside from marketing.

im guessing he went into a meeting where Johnson said a bunch of uncontroversial platitudes and hes spinning that into support for the press, in an effort at some sort of self fulfilling momentum. so yeah i think hes toeing a line but johnson is capable of speaking for himself - id prefer to hear these sorts of things directly from him. and again, Rosa being appointed to zoning speaks louder than any press release.

[ardecila]

Fair enough, we're all just reading tea leaves except the 2 people that were in the room.

[glowrock]

Originally Posted by jtown,man

Are we talking about the police or teachers union?

Both.

[SamInTheLoop]

It's always possible - in addition to being general pr, however ludicrously over the top it came across - that perhaps Gloor's capital partners are a little restless? No inside knowledge, but could just possibly be another motivation.

[lakeshoredrive]

Anyone watching the inauguration?

[Vlajos]

Originally Posted by lakeshoredrive

Anyone watching the inauguration?

No, but CME is prepared to leave Chicago:

“We have sold all of our property in the state of Illinois, in the city of Chicago,” Duffy said. “We don’t own anything any longer.”

“In our leases, we have a language in there that says if there’s something that’s ill-conceived from the city or the state, that our leases are null and void,” Duffy said. “We’re in a very strong position. If we had to leave, we could leave.”


CME Group CEO Duffy says exchange is prepared to leave Chicago 'if we had to'

https://www.chicagobusiness.com/fina...policy-changes

[marothisu]

Originally Posted by Vlajos

No, but CME is prepared to leave Chicago:

“We have sold all of our property in the state of Illinois, in the city of Chicago,” Duffy said. “We don’t own anything any longer.”

“In our leases, we have a language in there that says if there’s something that’s ill-conceived from the city or the state, that our leases are null and void,” Duffy said. “We’re in a very strong position. If we had to leave, we could leave.”


CME Group CEO Duffy says exchange is prepared to leave Chicago 'if we had to'

https://www.chicagobusiness.com/fina...policy-changes

This is nothing new that we don't already know whether it's CME or some other firms. It's not like they decided in the last month about this. You don't sell big commercial properties in that short of time. The financial transaction tax has been floated for a lot longer than Brandon Johnson has been a thing. It was first filed in 2018 and actually read out in early 2019 at the state level. The article is "if this tax were to pass then we're gone" which many firms have stated. I don't think it's going to happen - even Pritzker let Johnson know how dumb it would be. I think Johnson knows that he needs Pritzker on his side to pass half of the stuff there.

The article is basically a public way of putting the pressure on Johnson to make sure the transaction tax/support dies again

[marothisu]

Originally Posted by lakeshoredrive

Anyone watching the inauguration?

Yes. I didn't vote for Johnson but I felt that minus 1 bad comparison it was actually a pretty great speech. The guy is a million times better orator than Lori Lightfoot could ever be. Time will tell, but indications are that he'll possibly be pretty YIMBY. I did like how he kind of evoked a sense of the fact that Chicago has a great legacy of getting things done and that the city/people are still destined for great things. It wasn't in the theme of equity or anything like that. Just in general. Hopefully he can mend some things with the major league players of the business community.

I didn't vote for him, but there are a very glimmers of hope at least way better than LL. As I've written about previously in here, I think he said a lot to get votes but he knows which of what he said is kind of dead before it's even taken up (i.e. commuter tax, city income tax, financial transaction tax). Probably a bit of a better tactician than some may realize but again, time will tell.

[Bonsai Tree]

Originally Posted by Vlajos

No, but CME is prepared to leave Chicago:

Question: When are you going to get over your doom and gloom phase? I didn't vote for Johnson, but let's be honest, he literally just became mayor. It'll be a while before we can hold him directly accountable if he makes serious errors. Why not wait and see? I'm genuinely curious.

[sentinel]

Originally Posted by Bonsai Tree

Question: When are you going to get over your doom and gloom phase? I didn't vote for Johnson, but let's be honest, he literally just became mayor. It'll be a while before we can hold him directly accountable if he makes serious errors. Why not wait and see? I'm genuinely curious.

I mean, I do not like Johnson at all, and I sincerely hope his policies will not bleed the City dry of important corporations. But that quote from CME's CEO is blatant corporate blackmail. And if they already don't own any real estate in Chicago anymore, it seems like they've already planned a potential exit well before he was elected mayor..asset sales, especially real estate don't happen overnight. If they really wanted to leave Chicago, they made their decision a LONG time ago.

[marothisu]

Originally Posted by sentinel

I mean, I do not like Johnson at all, and I sincerely hope his policies will not bleed the City dry of important corporations. But that quote from CME's CEO is blatant corporate blackmail. And if they already don't own any real estate in Chicago anymore, it seems like they've already planned a potential exit well before he was elected mayor..asset sales, especially real estate don't happen overnight. If they really wanted to leave Chicago, they made their decision a LONG time ago.

The financial transaction tax has been a thing in Illinois since late 2018/very early 2019. There's a lot of companies with a potential foot out the door just in case. They've had 1 foot out the door for multiple years now. But It's not going to happen - Prtizker will do his damnedest to make sure it doesn't happen and would probably veto any measure about it if it were to come his way. He already said as much and understands the disaster to the industry it would bring. He made it known to Johnson and I think Johnson got the message. Just like some of the other taxes floated around, I do not think Johnson will actually pursue it seriously.

I didn't vote for Johnson, but blaming him for something from late 2018/2019 that had nothing to do with him is completely fucking asinine:
https://www.ilga.gov/legislation/Bil...nID=108&GA=101
https://www.ilga.gov/legislation/Bil...ession=&GA=102

But again, I'll bet a lot of money that there will be no financial transaction tax just like there will be no city income tax. Maybe we'll get a modified "mansion" tax though.

[Chisouthside]

from 2016 from the CME site
https://www.cmegroup.com/education/a...-vs-facts.html

[marothisu]

Originally Posted by Chisouthside

from 2016 from the CME site
https://www.cmegroup.com/education/a...-vs-facts.html

Kind of funny they have a site about it. Also I thought it was only a thing back to 2018 but guess it's even older than that. Many companies have done this anyway. Some had moved part of their data centers out of Illinois or made redundant ones elsewhere just in case - multiple years ago. Pritzker is also not supportive of it and he'd veto the measure if it even passed to him for signing.