Tuesday, January 26, 2010

$3 Million Impulse Buy?

The Reader, as part of its extensive TIF coverage, "acquired a copy of the city’s “shadow budget”—the list of allocated and proposed uses for the half a billion dollars a year in taxpayer money."

That was less than two months ago, and the Wilson Yard Wish List for 2009-2011 included $1.49 million for Arai campus improvements ("Committed"),  $3.4 million to the Truman College IGA ("Committed"),  and $750K to Clifton/Magnolia Apartments ("Pending").

A sharp-eyed reader pointed out something missing from the TIF "Wish List"—the HUD building at 850 West Eastwood, which we found out from Lake Effect News is the TIF's latest purchase, for $3 million

How does that happen?  Ald. Shiller was walking down Eastwood one day, looked up and said, "I simply must have that building!  I'll find the money somewhere"?

We find it very interesting that the only item on the wish list marked Proposed is "CTA Wilson Stop Improvements" for the very interesting amount of ... $3 million.

In December, we asked "Will these funds magically disappear too, like all the other times money was allocated for our Wilson station?"  We're still wondering.

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