At Issue: The Race For Chicago City Treasurer

Craig Dellimore
February 01, 2019 - 8:46 pm

From left: Melissa Conyears Ervin; Peter Gariepy; Ameya Pawar (images provided to WBBM Newsradio)

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CHICAGO (WBBM NEWSRADIO) -- The three candidates running for Chicago City Treasurer are airing differences in style and substance.

Like her two rivals, Illinois state Rep. Melissa Conyears Ervin said the city should leverage its bank deposits to help struggling communities.

"First and foremost, when we're looking at investing taxpayer dollars," she told WBBM, "we have to make certain that we're investing with the mindset of the citizens of Chicago."

Ameya Pawar, a veteran of the City Council, has proposed creation of a city-owned and -controlled bank that would invest in neighborhoods and businesses without charging regular bank fees.

"Making solid returns and helping communities don't have to be at odds with one another,” he said.

CPA Peter Gariepy says the idea is unwise and risky. He notes that the deposits would not be federally guaranteed but backed by the faith and credit of the city. 

He said he would want to invest in entities that have sufficiently high ratings.

Chicago City Treasurer Kurt Summers is not running for re-election, making for an open field.               

The city treasurer’s race is the focus of “At Issue,” which airs 9:30 a.m. and 9:30 p.m. Sunday.