Chicago Council narrowly approves Mayor Brandon Johnson's plan for $830M bond for infrastructure
CHICAGO (WLS) -- Chicago City Council approved Mayor Brandon Johnson's $830 million bond proposal for critical infrastructure improvements Wednesday during a special meeting.
The controversial plan passed 26-23.
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Johnson says a "significant" portion of the funds would go to projects like bridge repairs and replacements, street resurfacing, sidewalk maintenance and more.
A vote on the bond was delayed during last week's council meeting, with some council members criticizing the bond's repayment schedule, which calls for interest-only payments until 2045.
Johnson defended the bond's necessity during a briefing Tuesday.
"Every resident of this city deserves to have confidence in the road, sidewalks and bridges that they drive and walk on," Johnson said. "Every one of our 77 community areas deserves safe and reliable transit systems."
Finance Committee Chair and 3rd Ward Alderman Pat Dowell also defended the proposal, writing in part in a Chicago Tribune Op-Ed, "The idea that this bond issuance "kicks the can down the road" is another falsehood. In fact, the opposite is true. Deferring infrastructure maintenance only gives rise to higher costs, greater liabilities and diminished quality of life for residents."
All aldermen agree infrastructure upkeep is vital, but not all agree on how to pay for it.
"When my 5-year-old is 30, we will be paying $820 million over a period of six years on this very bond," 34th Ward Ald. Bill Conway said.
Conway led the way in opposition of Johnson's bond plan.
The terms of the deal delay interest payments until 2027, and the principal is not due until 2045.
The total repayment will cost taxpayers about $2 billion. The mayor's allies argued the city cannot afford to delay infrastructure projects.
"Potholes will grow bigger; vacant buildings will catch on fire. Light poles will fall, and bridges could deteriorate beyond repair," 27th Ward Ald. Walter Burnett said.
"This idea, we are in a real hurry, and we got it, get this done today or else is absolute and total bologna," 42nd Ward Ald. Brendan Reilly said.
Opponents of the bond plan were hoping for the Council to take more time to change the terms of the payment plan, but the mayor was anxious to get the deal done, so much so, a vote was called without debate.
"We are just asking for a few minutes to step back and talk about this bond," 9th Ward Ald. Anthony Beale said.
After discussion, debate was allowed, a vote was taken and the bond plan barely passed.
It was tweaked to add language to make sure the money will not go to Chicago Public Schools to pay for a teachers contract or pensions.
"We can do that while insuring not a single cent of this money goes to anything besides infrastructure," Dowell said.
But, some alders who oppose the deal don't trust the mayor, and fear the money will somehow make it to CPS.
"You can always play the shell game and move money around, free money up here to put money here, and that is what is going to happen," Beale said.
