* STAR bonds don’t add up

When developers unveiled plans for the 900-acre University Town Center in Glen Carbon and asked the state to create STAR bonds to finance it, they predicted the development would generate millions of dollars in state and local tax dollars.

But the Illinois Department of Revenue says state and local governments could lose money on this project — up to $267 million over 20 years. That’s because 100 percent of taxes generated by so-called destination projects like the rumored Legoland would be diverted to pay for them — an estimated $1 billion to $1.3 billion — and sales would be siphoned away from surrounding areas. […]

We’re all for new development, especially a unique destination development like Legoland, but not if the numbers don’t work.

* ‘No major delays’ after first day of cuts, CTA says

* Snow, CTA cuts could leave commuters struggling

* CTA Service Reductions Affect CPS Students

* CTA cuts lead to crowded trains, buses during rush

* The CTA’s cold truth

* CTA President Says He’s Ready to Meet with Union Leaders

* Mayor Daley proposes giving city inspector power to investigate aldermen

* Daley: Expand watchdog’s reach to City Council

* City Hall on the grill

The only reason the compliance office exists is because the mayor and his legal staff didn’t want then-Inspector General David Hoffman poking into what they saw as their — not citizens’ — business…
The move was endorsed by Inspector General Joseph Ferguson, who while appointed by the mayor is considered more independent than the Daley administration’s Office of Compliance….In a report last month, Ferguson said “the dangers of political hiring remain real and constant” and recommended that a city ordinance that bars him from investigating aldermen be lifted.

* Another trade show pulls out of McCormick Place

SuperComm is a telecommunications and digital technology trade show. It was scheduled to hold its event at McCormick in late October. But a spokesperson says the show is being shelved because of low attendance projections.

* White House pledges $78.5 million to keep species out of Great Lakes

* $78.5 million for carp fight

* Lawsuit accuses mortgage brokers of targeting seniors

[Lisa] Madigan says reverse mortgages are complex loans that should only be taken out after a homeowner consults with a qualified housing counselor.

* Cemetery to be sold to city for O’Hare expansion

* City Council committee OKs $700,000 settlement in police brutality case

* Inspectors Trash More Food at Shared Kitchen

* Aurora execs’ new duties bring more pay

* Washington’s District 308 board gets behind $10.2 million in renovations

* Chatham School Board discusses building repair needs

* Homer Glen Plan Commission approves entertainment complex

* Naperville to cut capital improvement spending

The council on Monday discussed $66.4 million in proposed projects for the upcoming fiscal year and $328 million over five years. The city previously had been averaging about $80 million a year.

* Belvidere’s sewer, water rates may go up

* Rock Island aldermen approve trash collection charges

* Moline aldermen split on utility tax

* [Quincy] to pursue $6 million grant to build central hub for public transportation services

* Pekin council poised to approve budget

* East Peoria offering architects blank canvas for Downtown 2010 site

Most of the 89-acre site was home to the first manufacturing plants of Caterpillar Inc. City officials want to transform the space between West Washington and Camp streets into a retail and commercial center by introducing new shops, restaurants, offices, civic buildings and more.

* Bloomington OKs $1.5 million street resurfacing program

* Officials: Cutting $4 million from Bloomington budget “not a daunting task”

The city is in the middle of crafting a $73.6 million budget that will begin May 1.

* Two city clerk employees notified of possible layoffs

* One-man levee road show: Chief engineer has a mission and a message