From Lake Effect News:
"Mercy Housing Lakefront, the Chicago affiliate of a national organization that develops and manages housing for low-income seniors, families and individuals with special needs, has acquired the 16-story HUD building at 850 W. Eastwood Ave. in Uptown. ... The Chicago Community Development Commission granted Mercy authority to become the “developer” of the 850 building and approved $3 million in funds from the Wilson Yard TIF to be spent on the rehab." Read the rest of the story here at LEN.
This is on top of several other non-profit housing ventures (900 W Windsor, 4431 N Clifton, and 927 W Wilson) receiving millions in TIF money, not to mention the 178 units of new low-income housing in Wilson Yard itself.
Ald. Shiller says that "I am confident this [Wilson Yard TIF] development will spur future commercial and retail development in the Uptown area of the ward." Frankly, we don't see how giving millions and millions of dollars to non-profit housing developers fits in with this stated goal.