Chicago's Treasurer is proposing to dissolve a decade-old investment fund to recover over $57 million. This move aims to address a significant budget shortfall and prevent potential layoffs of city workers. The fund, established for neighborhood economic development, currently holds idle cash with no outstanding loans. Dissolving it requires City Council approval to bolster the city's main operating fund. This action could significantly reduce the deficit and preserve essential services.
Chicago, Illinois
https://chicagocrusader.com/treasurer-seeks-57-million-to-prevent-city-layoffs/