Tuesday, March 28, 2017

Chicago can't account for $4.6 million in affordable housing funds

It's League of Shadows time for Chicago again at Marathon Pundit.

"The League of Shadows has been a check against human corruption for thousands of years. We sacked Rome, loaded trade ships with plague rats, burned London to the ground. Every time a civilization reaches the pinnacle of its decadence, we return to restore the balance." Ra's al Ghul in Batman Begins.

From the Chicago Tribune:
City Hall can't account for about $4.6 million collected from developers to create affordable housing, according to a report that Chicago's watchdog released Tuesday.

The money is part of $89.9 million in affordable housing funds collected from developers from 2003 to 2015. A city accounting move "allowed" the bulk of the $4.6 million in question "to be used for other purposes," according to Inspector General Joseph Ferguson's report.

Ferguson recommended the money be restored to a fund designated for affordable housing, but Mayor Rahm Emanuel's administration balked, with officials saying they believe the money was spent on affordable housing, even if the records are hard to track.

"The purported losses, if any, to the program described in this report were losses on paper only," city budget officials wrote in response.

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