City of Chicago, IL

The developer of the proposed $20 billion One Chicago project is seeking state subsidies as part of a P3 deal.

The mayor took the oath of office Monday and faces decisions soon about how to handle unfunded pension liabilities along with rising debt service and labor costs.

Incoming CFO Jennie Huang Bennett and budget director Susie Park arrive as the city warns that pension contributions may rise more than previously projected.

Moody's put the Illinois State Toll Highway Authority's A3 rating on review for a downgrade in the wake of the Puerto Rico ruling.

Chicago and its pension funds dispute whether the city is meeting its obligations; the city says the state comptroller is too quick to believe the funds.

Jennie Huang Bennett is seen as the front-runner as the municipal bond market awaits the Chicago mayor-elect's fiscal picks.

Mayor-elect Lori Lightfoot opted not to try to block votes on controversial subsidies that could top $2 billion for two economic development projects.

Lori Lightfoot picked Jeffrey Bethke to help address the city's pension and budget demands when she takes the helm next month.

Advocates are pressing for more than a pork-filled package, with reforms and sustainable funding sources, too.

The Illinois Finance Authority says one green investor snapped up a piece of deal during retail order period.