Illinois has more than 8,400 government bodies, Bloomberg Business Week tells us. Many of them don?t get along very well with their neighbors.
But there?s one factor helping them to bury their differences: the prospect of a federal government payoff:
When the foreclosure crisis hit, the area’s 800-pound gorilla, the City of Chicago, was first in line for stimulus funds to acquire, rehab, and sell some of its 22,685 foreclosures. Surrounding towns in five counties were hit far worse, enduring 41,321 foreclosures in 2009. A few large towns received federal help early last year via formula grants calibrated to reward populous areas. As individual entities, they lacked the staffing, expertise, and influence to pull off complex funding applications.
When $2 billion in new stimulus funds became available in 2009, the counties decided to team up. It meant getting help from savvy nonprofit groups and more efficient decision-making; not relying on local councils for approval of every component of the application. It also required sacrifice. Some towns were angered by the decision to accede to the federal desire to target homes near existing mass transit and businesses, effectively excluding towns without transport hubs. Still, the coalition stuck together for the greater good and sent off its application.
It?s nice to know that long after his death, Lord Keynes is still helping to bring people together. It?s too bad his ideas don?t work, as Roy Cordato explained in 2009:
