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Welcome to the Reader's morning briefing for Wednesday, June 21, 2017.
Alderman Brendan Reilly has put in an "urgent request" for more overnight police patrols, more surveillance cameras, and better lighting along the Riverwalk, in Streeterville, and on the Lakefront Trail, the Sun-Times reports. Reilly also wants the Ohio Street underpass under Lake Shore Drive to be closed overnight after a 25-year-old woman was shot and killed near there in Streeterville Sunday, marking the first homicide downtown in 2017 so far this year. There have also been several nonfatal shootings downtown recently, including one near Millennium Park, as well as a stabbing at North Avenue Beach. [Sun-Times]
Chicago Public Schools is set to borrow $275 million from J.P. Morgan at a "sky-high" interest rate of 6.39 percent in order to make a mandatory pension payment by June 30, according to the Sun-Times. The interest rate is "more than four times the interest rate a typical government would pay on the same borrowing deal," according to experts. "CPS has no regular market access, so the price they pay to borrow is always the product of negotiation," Matt Fabian, a partner at Municipal Market Analytics, told the newspaper. [Sun-Times]
Illinois's bond rating is in danger of being cut to junk by Standard & Poor's Global Ratings unless Governor Bruce Rauner and the Illinois General Assembly reach a budget deal soon. It would be the first state ever to reach a junk bond rating. Bloomberg Markets provides some answers to a few frequently asked questions about the state's financial crisis, including "Is Illinois the next Puerto Rico?," "What will happen once Illinois is cut to junk?," and "Is Illinois going to default?" [Bloomberg Markets]
Jesse Ross was a college student from Missouri taking part in a Model United Nations conference at the Sheraton hotel in Streeterville when he vanished into thin air on November 21, 2006. There's been no trace of him in more than ten years. His parents recently attended the first Missing Persons Day at the Cook County Medical Examiner's office to look for answers and bring awareness to the case. "We have to keep Jesse in the public eye or his file will be left in the dust," his mother, Donna Ross, told the Tribune. Shortly after the youth's disappearance, police told his parents that he probably fell in the Chicago River, which is just steps from the hotel, but divers were never able to locate his body, and according to father Don Ross, the Chicago Police Department has never since come up with a real lead. "We're wondering who's walking around free in Chicago who may have harmed our son," he said. [Tribune]
Yolanda Flader, who was the fifth resident to move into Marina City in 1963, is moving to Mexico City Wednesday, and her neighbors threw a party for her Monday. "I had a great time, and I love Marina," she said at the party. "It has been my life for most of my life." After Flader moves out, there will be only one original resident left in the iconic towers. When Flader moved in, the rent was only $170 a month and the elevators weren't yet working. "It was something new and different, and I think it's still different," she said. "I haven't seen any other building with the balconies we have." [DNAinfo Chicago]
BLVD, pronounced "boulevard," is hoping to bring 1950s old Hollywood glamour to Fulton Market when it opens at 817 W. Lake on Wednesday. The two-story restaurant and lounge is open for dinner and is serving modern American food with an international flare from former Pump Room chef Ross Mendoza. [Eater Chicago]