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Who Knew? Chairman of Mayor Emanuel’s Campaign may be Involved with Insider Trading

Chicago Daily Observer 5 February 2013 No Comment

From the Sun Times

The way UNO schools were built also has provided a financial boon to people close to the group’s leaders, records obtained by the Chicago Sun-Times show.

A $98 million state grant — approved by the Illinois Legislature in 2009 and believed to be the nation’s largest government investment in charter schools to date — funded the construction of Soccer Academy Elementary and other new schools built by UNO.

More than one-fifth of the taxpayer money spent on the Soccer Academy Elementary project went to four contractors owned by family members of UNO’s political allies and a top executive of the group, records show:

 

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From the Janurary 11, 2011 Chicago Daily Observer

Rangel will use that money to fund commercial development, rather than education, and he would like Canadian National (Illinois Central) Railroad to donate the land

The 9.75-acre campus, which is to eventually include a 600-student high school and a community recreation area with a soccer stadium and fields, will serve as a catalyst for additional redevelopment in the neighborhood, including a retail and commercial project UNO wants to develop on an adjacent 22-acre parcel, he said.

UNO hopes to acquire the additional land as a donation from the Canadian National Railway Co.

“We would love to see them do the right thing by the community and donate that land,” Rangel said. “If we’re successful in acquiring the additional acreage, I think we would act as a developer and look to create a commercial development.”

It’s an ambitious agenda for the 26-year-old community group, whose accumulation of political clout and public largesse has left it well positioned to make big plans, even as budget woes have left Chicago Public Schools facing larger classes and teacher layoffs.

Let’s see, Quinn gives money to a private business to do real estate development.  CEO of private business is Co-Chairman of Emanuel for Mayor Campaign.  Quinn raises taxes to fund Co-Chair’s development.

image Thomas a’ Becket and King Henry II dicussing Illinois Politics

 

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