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African American Entrepreneurs Head SPAC in $126.5 Million IPO to Acquire Black-owned Firms

NNPA NEWSWIRE — The company’s directors are majority-minority including, Dr. Julianne Malveaux, MIT economist and Dean, College of Ethnic Studies, Cal State Los Angeles, Mr. Ronald Busby, Sr., President and CEO, US Black Chamber, Inc., and Mr. Patrick Linehan, Partner, Steptoe & Johnson.

Posted inTimes Weekly News

Joliet’s finance director delivers mostly good news on proposed budget

Road improvements totaling more than $30 million, body cameras for police officers, more revenue from sales taxes and real estate taxes and a reduction in the tax levy. That was some of the good news outlined in the City of Joliet’s proposed 2022 budget presented Monday by Jim Ghedotte, the city’s finance director. Ghedotte presented the budget on behalf of City Manager James Capparelli. It includes revenues of $388.7 million and expenditures of $438.1 million. The estimated $50 million shortfall will be made up by selling bonds to pay for $28 million in water and sewer replacement projects, as opposed to paying for them in cash. Also reserves funds from the current budget are projected to total $250 million. Joliet Mayor Bob O’Dekirk and the city council are expected to take a closer look at the proposed budget and likely make some adjustments prior to putting it to a vote on Dec. 21.

Posted inTimes Weekly News

Will County, still no decision on doling out second round of stimulus

Many have inquired about how to get a piece of the $134 million Will County received earlier this year from the federal American Rescue Plan. County officials, however, have yet to dole out any of that second round of COVID relief funding and, as they did with the CARES Act funding, they plan to once again hire the same consultant to assist in the process of distributing funds.
“Although we have not made an official determination on how the funds will be disbursed, we have received quite a few requests from our Will County residents, businesses, municipalities, local governments, non-profits, county board members, department heads and other customers,” said Will County Board member Ken Harris (D-Bolingbrook). Harris is chairman of the county board’s Finance Committee.

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