City of Chicago, IL

Chicago's top suburban customer and Illinois' largest water wholesaler bought land for a treatment plant in Northbrook, saying it will strike out on its own.

Steven Mahr moved to Chicago two years ago, and in March, he moved from Stifel to the city's finance department, where he's now happily tackling tough problems.

The bond plan, a key priority for Mayor Brandon Johnson, will be paid for with revenue gained by letting tax increment financing districts expire.

This is the second wastewater deal since the city received an upgrade in April 2023.

Chicago Mayor Brandon Johnson's real estate transfer tax change ballot measure – also known as the mansion tax or Bring Chicago Home – was headed for defeat.

On Friday, the Chicago City Council's Finance Committee will discuss $1.25 billion of general obligation and Sales Tax Securitization Corporation bonds.

S&P cited budget pressures that have not been counterbalanced by new revenue growth when lowered the outlook on the city's BBB-plus rated GO bonds.

Moody's Investors Service bumped Chicago's outlook to positive from stable, while affirming the city's Baa3 issuer and general obligation bond ratings.

So far, the temporary Bally's casino in Chicago has brought in about a quarter of the tax revenue it needs to generate to keep up with budget expectations.

Joe Ferguson, who served as Chicago's inspector general under three mayoral administrations, replaces Laurence Msall, who died earlier this year.