Latest news with #CityCouncilFinanceCommittee
Yahoo
09-04-2025
- Business
- Yahoo
Afternoon Briefing: Hotly contested Dexter Reed settlement set for vote
Good afternoon, Chicago. A tourist couple hit by a car fleeing Chicago police downtown and left with devastating injuries may soon win a $32 million lawsuit settlement from the city. Aldermen are set to vote on the deal recommended by Mayor Brandon Johnson's Law Department Friday, according to the City Council Finance Committee agenda. They will also vote on a previously stalled and hotly contested $1.25 million settlement for the family of Dexter Reed, the man shot and killed by officers in a gunfight that followed a plainclothes police traffic stop last year. Here's what else is happening today. And remember, for the latest breaking news in Chicago, visit and sign up to get our alerts on all your devices. Subscribe to more newsletters | Asking Eric | Horoscopes | Puzzles & Games | Today in History The co-founder of red-light camera company SafeSpeed LLC testified in a federal courtroom today that his company routinely sought to influence elected officials with campaign cash, dinners and cigars to secure more business. Read more here. More top news stories: Northwestern University's federal funding freeze: What we know so far Bridgeview hijacking, crash suspect Miguel Alvarado dies in Cook County Jail Investors have been desperate for Trump to ease up on his tariffs, which economists say could cause a global recession and increase inflation. Read more here. More top business stories: Asian supermarket customers brace for price hikes as President Donald Trump tariffs take effect Elon Musk-Tesla backlash opening doors for EV startups like Rivian There's a lot of ground for Caleb Williams and Ben Johnson to cover between now and Week 1 in September, and that process started this week during Phase 1 of the offseason program in Lake Forest. Read more here. More top sports stories: Justin Steele goes on 15-day IL with left elbow tendinitis as Chicago Cubs 'take the conservative route' Rory Spears, a longtime Chicago sports radio presence with a passion for golf, dies at 65 'Native Pop!' opened on March 20 at the Newberry and features everything from 'Star Wars' clips in the Navajo language Diné Bizaad to three video games by Native creators loaded onto an arcade machine specially designed for the exhibit. Read more here. More top Eat. Watch. Do. stories: Chicago Shakes 2025-26 season: Billie Jean King play and 'Brokeback Mountain' musical 'Your Friends & Neighbors' review: What if Don Draper had stayed in the suburbs after his divorce? Facing a global market meltdown, Trump abruptly backed down on his tariffs on most nations for 90 days, but raised his tax rate on Chinese imports to 125%. Read more here. More top stories from around the world: Republicans are going public with their growing worries about President Donald Trump's tariffs US restores urgent food aid but not in Afghanistan and Yemen, where millions need it
Chicago Tribune
09-04-2025
- Politics
- Chicago Tribune
Afternoon Briefing: Hotly contested Dexter Reed settlement set for vote
Good afternoon, Chicago. A tourist couple hit by a car fleeing Chicago police downtown and left with devastating injuries may soon win a $32 million lawsuit settlement from the city. Aldermen are set to vote on the deal recommended by Mayor Brandon Johnson's Law Department Friday, according to the City Council Finance Committee agenda. They will also vote on a previously stalled and hotly contested $1.25 million settlement for the family of Dexter Reed, the man shot and killed by officers in a gunfight that followed a plainclothes police traffic stop last year. Here's what else is happening today. And remember, for the latest breaking news in Chicago, visit and sign up to get our alerts on all your devices. 'We would cut deals with legislators': Ex red-light camera company exec takes stand in bribery trial of state Sen. Emil Jones III The co-founder of red-light camera company SafeSpeed LLC testified in a federal courtroom today that his company routinely sought to influence elected officials with campaign cash, dinners and cigars to secure more business. Read more here. Dow surges 2,000 after President Donald Trump announces a pause on many of his tariffs except for China Investors have been desperate for Trump to ease up on his tariffs, which economists say could cause a global recession and increase inflation. Read more here. More top business stories: Chicago Bears QB Caleb Williams wants to be pushed. New coach Ben Johnson is eager to do so. There's a lot of ground for Caleb Williams and Ben Johnson to cover between now and Week 1 in September, and that process started this week during Phase 1 of the offseason program in Lake Forest. Read more here. More top sports stories: With comics and video games, 'Native Pop!' exhibits shows Native American history is not ancient history 'Native Pop!' opened on March 20 at the Newberry and features everything from 'Star Wars' clips in the Navajo language Diné Bizaad to three video games by Native creators loaded onto an arcade machine specially designed for the exhibit. Read more here. More top Eat. Watch. Do. stories: Chicago Shakes 2025-26 season: Billie Jean King play and 'Brokeback Mountain' musical 'Your Friends & Neighbors' review: What if Don Draper had stayed in the suburbs after his divorce? Facing a global market meltdown, Trump abruptly backed down on his tariffs on most nations for 90 days, but raised his tax rate on Chinese imports to 125%.
Yahoo
31-03-2025
- Business
- Yahoo
NYC comptroller hopeful Justin Brannan gets first congressional endorsement from Rep. Velázquez
Rep. Nydia Velázquez, a powerbroker of Brooklyn and Queens politics, is throwing her weight behind Justin Brannan's city comptroller run, giving him his first endorsement from a member of New York's congressional delegation. In a statement to the Daily News announcing her endorsement, Velázquez credited Brannan's push as City Council Finance Committee chairman to reverse budget cuts to libraries and other public services enacted by Mayor Adams over the past few years. 'Justin didn't just speak up, he led the charge to restore that funding and won … I've seen firsthand how hard he fights for working families, especially in neighborhoods that have too often been overlooked,' said Velázquez, who has represented a section of Brooklyn and Queens in the U.S. House of Representatives for more than three decades. 'Justin has the backbone, the values, and the vision to make sure our city's budget reflects the priorities of the people — not the powerful. I'm proud to endorse Justin Brannan because I know he'll always put working New Yorkers first.' Brannan, whose Council district spans a part of Brooklyn that includes Coney Island, is facing off against Manhattan Borough President Mark Levine in the June 24 Democratic comptroller primary. Levine has to date raised more money than Brannan for his comptroller run and racked up high-profile endorsements, too, including from Rep. Adriano Espaillat, who's highly influential in Manhattan politics. Neither Espaillat nor Velazquez have endorsed yet in the June 24 Democratic mayoral primary, which has been upended by incumbent Eric Adams' corruption indictment and a late entry into the race from ex-Gov. Andrew Cuomo. The two congressional lawmaker's endorsements in the down-ballot comptroller race, though, could indicate they're nearing decisions on who to back in the mayoral race, too.
Yahoo
27-03-2025
- Business
- Yahoo
This long-vacant New Bedford building is getting $100,000 in city funds to build housing
NEW BEDFORD — The former Jerry's Dessert and food shop at 105 Ashley Blvd., vacant for many years, got a preliminary OK for $100,000 in city Community Preservation money to develop nine affordable apartments. The City Council Finance Committee unanimously approved the funding this week. It will still need full council approval when the board meets April 10. Jan da Silva, Community Preservation Committee chair, told city councilors the developer plans on larger, family-style apartments of two to three bedrooms. It's not far from the train station, she added. Two of the units will be ADA-accessible. Transit-oriented development: New Bedford could allow taller, denser buildings near commuter rail station Councilor Maria Giesta said she liked that the apartments were larger, accommodating families. 'That's very much needed in our city right now,' she said. The developer is Green Miles Properties, owned by Audley Bodden. According to the project application, the new apartments will be targeted for households between 60% and 100% of Area Median Income. According the U.S. Census Bureau, the median household income for 2023 was $56,025. The $100,000 grant will help the developer leverage $2 million in state and private funding for the overall $3.6 million project, according to the project application. New Bedford apartments: Here are some residential developments on track for 2025 The developers will attempt to preserve as much of the current structure as possible, according to the application. An estimated timeline has construction beginning in August and being completed in December 2026. The structure was built around 1901, and the lot is 10,860 square feet. This article originally appeared on Standard-Times: Blighted New Bedford building to get $100,000 for apartment project
Boston Globe
13-03-2025
- Business
- Boston Globe
No good options: Providence Mayor Brett Smiley has to raise taxes. But by how much?
None of those payments are optional. They are guaranteed by courts and contracts. Solving the problem is quickly becoming the biggest challenge Smiley has faced in his generally smooth first term as mayor, and it's coming just as he begins to gear up to run for a second term next year. Get Rhode Map A weekday briefing from veteran Rhode Island reporters, focused on the things that matter most in the Ocean State. Enter Email Sign Up The bigger picture: The Democratic mayor has no good options. Advertisement No one wants to pay more in taxes, and most residents will hate the budget cuts that would produce meaningful savings. We're talking moving trash pickup to every other week, slashing grants to libraries, community centers, and nonprofits, or a 10 percent reduction in city employees. The good news for Smiley is that The bad news for Smiley is that state law caps increases in the tax levy – that's the total amount the city brings in in taxes from all properties – at 4 percent each year. That maximum tax increase would generate $15.8 million if the city collects every single penny owed – which it never does. That leaves a $6 million gap. Smiley is now seeking General Assembly approval to raise taxes above the 4 percent cap – which is not uncommon for municipalities to request – but he hasn't said how far he wants to go over the cap. If every 1 percent increase generates around $4 million, then somewhere between 6 percent and 7 percent would probably close the $22 million gap. Advertisement Reality check: For every 1 percent increase in the tax levy, the average homeowner's tax bill goes up about $42. If Smiley reaches for a 7 percent levy increase, the average property tax bill would increase by almost $300. That's real money. City Council leadership has said it wants to see more guardrails on the tax levy proposal – perhaps a cap on how much the city can exceed the cap – but none of the 15 members on the council want to field calls from constituents about more rats in the streets, lackluster snow removal, or their kids having nowhere to play because the local rec center is closed one day a week. Smiley and most members of the City Council are up for reelection next year – Councilors Jo-Ann Ryan and Mary Kay Harris are term-limited – so it's smarter politically to rip the Band-Aid this year and try to avoid raising taxes or making painful cuts when they're asking for votes next year. What's next: The City Council Finance Committee is meeting tonight at 5:30 to discuss the resolution asking the General Assembly to exceed the tax cap. Most residents have already received their property tax assessments, but they won't get a sense of just how much their taxes are increasing until Smiley releases his budget proposal next month. The council will spend two months vetting the budget, and potentially tinkering with the proposal. First quarter tax bills are typically due by the end of July. Advertisement Separately, city leaders are exploring other options for pad revenue. One idea is to implement a parking tax for those who attend events at the AMP or PPAC. Another is to increase the cost of parking tickets. This story first appeared in Rhode Map, our free newsletter about Rhode Island that also contains information about local events, links to interesting stories, and more. If you'd like to receive it via email Monday through Friday, . Dan McGowan can be reached at
