Chicago Mayor-elect Rahm Emanuel on Monday named 17 business and non-profit professionals to serve on his government and budget transition team to advise on policy and fiscal decisions.
He also named a 14-member education transition team. Emanuel won the race to replace retiring Mayor Richard Daley last month. He takes office May 16.
The government and budget team includes Mark Angelson, a faculty member at the Kellogg School of Management; Kirk Bishop, a director at Duncan Associates; Mark Cozzi, president of Lincoln Park Capital Group; Julia Harris, senior vice president at Scott Balice Strategies; Alexandra Holt, an associate at Baker & McKenzie; Steve Koch, vice at chairman Credit Suisse; Trinita Logue, president of IFF; and Cordelia Meyer, a member of the Commercial Club’s civic committee.
Also on the team is Wilbur Milhouse 3d, president of Milhouse Engineering & Construction Inc.; Sara Pang, senior vice president at CNA Financial Corp.; Jorge Perez, executive director of the Hispanic American Construction Industry Association; Juan Rangel, head of the United Neighborhood Organization; Bridget Reidy, chief supply officer at Exelon Corp.; Judy Rice, head of community affairs and economic development at Harris Financial Corp.; Ty Tabing, executive director at Chicago Loop Alliance; John Tolva, a director at IBM Corp.; and Tom Villanova, president, of the Chicago and Cook County Building and Construction Trades Council.
The end of Daley’s tenure comes as the city faces a deficit of up to $600 million in its next budget and a dramatic $550 million increase in pension contributions in the coming years due new state legislation. The fiscal woes are driven by rising labor costs and a growing debt load amid meager revenue growth and mounting unfunded pension liabilities.
Chicago’s $6.8 billion of general obligation debt is rated AA-minus by Fitch Ratings, A-plus by Standard & Poor’s and Aa3 by Moody’s Investors Service, all with stable outlooks. The city carried $12.4 billion in unfunded liabilities in its four pension funds in fiscal 2009.
