Contact Us
News

Stimulus, Anyone?

Stimulus, Anyone?

Good afternoon, Chicago and welcome to an era where we actually have TWO  relatively successful major league sports teams. It's been, we think, at least a decade since that's happened. Speaking of rarities, it was anything but politics as usual  at today's SIOR breakfast at the Rosewood in Rosemont.

 
Stimulus, Anyone?

The Society invited State Treasurer  Alexi Giannoulias  to speak about how the federal stimulus package and state budget might affect their businesses.  A Chicago-area native and a veteran of the private sector, Alexi said he understands first-hand what real estate pros are going through. Illinois will receive $22.7 billion  of the stimulus package, including $900 million  for shovel-ready projects for roadways and $1.8 billion for public works. ?We're working with banks to tell them that stimulus money is not to shore up their capital. We want to see them lending it out,? Alexi said.

 
Stimulus, Anyone?

Illinois is also in dire straights with its own $12 billion deficit, which will only be solved by raising taxes this year, Alexi said. ?We hate to raise taxes during a recessions, but you can cut everywhere across the board and still not make it,? he said. Past SIOR President Rick DeLisle of Lee And Associates  and current President Roy Oczak of Winner?s Edge  said they were glad to have Alexi come and speak to the group. The country?s youngest state treasurer was known for playing basketball with Barack Obama  at the East Bank Club, but now gets his exercise wrangling corruption  in state government. 

 
Stimulus, Anyone?

Pete Schmidt  with Meridian Design/Build, Kelly Disser  with NAI Hiffman and  T. J. O?Brien  with DP Partners were just a few of the record crowd in attendance for the breakfast, Rick said.  ?It's important for us to know about the stimulus package because we need to know the impact it will have  on our business and how soon that impact will take place,? Roy says. Thankfully, Chicago natives like Secretary of Transportation Ray LaHood  and Secretary of Education Arne Duncan  are in Washington bringing it all back home for us!