Another one bites the dust for now
Mayor Johnson's bond proposal stumbles out of the starting blocks
This week the Chicago City Council didn’t say yes to a proposal to borrow $830 million by issuing bonds; however, the council didn’t say no either. The plan is stuck in limbo because of the structure the mayor is proposing for paying off the bonds.
Critics maintain by the time the bonds are paid off Chicago would have spent an additional $2 billion in interest payments. Thirty-fourth Ward Alderman Bill Conway labeled the structure “fiscal insanity.”
Dollars derived from the bonds would be used to pay for infrastructure projects throughout the city, Proponents maintain getting roads repaired; bridges upgraded; and streetlights maintained immediately supersede concerns about repayment. Both Third Ward Alderman Pat Dowell and her colleague from the 28th Ward Jason Ervin, were outspoken in their support of issuing the bonds before the matter was tabled for until next week.
However, what is possibly paramount to the repayment plan is Johnson who repeatedly bills himself as a collaborator once again apparently failed to collaborate with the city council. His failure or reluctance to treat the legislators as an equal branch contributes to the strained relationship between the two branches. There is a major and valid point of contention with the majority of policies or ordinances the mayor introduces. And he is without a solid aldermanic bloc that can make his offerings veto-proof. He is the only mayor in modern Chicago history to have an issue up for a vote and every member of the council voted no.
Rather than call himself a collaborator; Johnson should adopt the ID of Mayor Do-over. He mentioned the Bring Chicago Home referendum will find its way on the ballot. He had three attempts with his property tax increase before council agreed to pass it. And now this bond issue will get another work over before being re-presented to council. Maybe Johnson wouldn’t waste so much time along with resources if he took the pulse of council before trotting out this plans, which obviously aren’t fully thought out.
The bond issue exemplifies Johnson’s conundrum. None of the council members who spoke against the bond issue essentially agreed with it would be used for was necessary; their disapproval was how the repayment was structured. Had Johnson collaborated with them beforehand, the fiasco in the council chambers could have likely been averted and the wheels could be in motion on issuing the bonds.
The mayor must learn how to shift gears and begin to rely on council input. This coming fiscal year will begin with a half-billion deficit; and the predictions are it will continue in the red for several years. Johnson will need the support and input to mitigate the impact of being in the red for the balance of his term.
Pat Dowell (left) and Jason Ervin (center) support the immediate issuing of the $830 million bonds for infrastructure improvements. Bill Conway, 34th Ward Alderman, maintains the deal is structured the wrong way to move forward.
In such a critical time, maybe the council members should reverse course and instead of waiting for the mayor to come to them; approach him first with offers to help. Whether he says yes or no, they can say they tried.