Yes folks, Ald. Shiller wants another $4,265,000 from the Wilson Yard TIF to purchase and renovate 2 buildings, one at 4416-26 N. Clifton and another at 4416-26 N. Magnolia for more affordable housing. She's like a kid in a candy store with our tax money. Where is this info on our "transparent" Alderman's website?Check out the proposal here.
Food for thought: Our poor Wilson L station is only getting $3Million from the Wilson Yard TIF. That is something to share with your friends and neighbors.
From the proposal:
"These two properties, which offer 59 units of project based Section 8 housing for families, are among the few remaining low-income family rental properties in the Uptown community. The properties are at risk of loss to the affordable housing supply because the private investors who developed the properties in the 1980’s have expressed their desire to exit the partnerships and realize the market values that are available in Uptown. If the proposed project does not go forward, it is likely that the ownership entity will opt out of the project based Section 8 contract and convert the buildings to market rate condominium ownership. These buildings are a vital affordable housing resource in the Uptown community. Revitalizing and preserving these 59 units prevents displacement of low-income families and contributes to maintaining a mixed-income community."
Isnt that block of magnolia between wilson and montrose already probably more than 50% section 8 housing? I'm all for affordable housing, but that area has a high concentration so I wouldnt be too upset for that block if the magnolia building was converted to condos. Having said that, maybe the alderman should take this opportunity to pressure other wards into increasing their percentage of low income housing. That way another alderman can feel like a hero for relieving the burden of helping those unfortunate families that may find themselves without a home.
ReplyDeleteWhat about Clifton?
She's got a "letter of support" from the community, eh?
ReplyDeleteWhich community might that be, specifically?
It can't be a letter of support from everyone who lives within the TIF district because I live in the district, and I've never heard of the projet.
Considering that 71% of my property tax dollars are going towards Wilson Yard, at a time when the city constantly reminds us of how broke it is; and while our school system is nearing a $1,000,000,000 deficit which either is, or is threatening to, cut off programs to students and/or lay off teachers, I would have appreciated having some say in how my money is being spent.
I guess that's just not how it works around here.
She'll reply that the money has already been budgeted within the TIF and the schools aren't being defunded .. blah blah blah.
Right.
Whatever.
I guess the only thing that is transparent about Shiller's call for a higher level of transparency is the fact that she's completely and utterly full of crap - and has no intention on managing her office in any other than way than the way which suits her.
Honestly, at the end of the day, I might be able to support funding for affordable housing; however,it would be nice to be asked for a change. Not told.
Well - she didn't actually tell us about this project, did she?
Like everything else that she does, she'd prefer to keep things on the DL until it's too late, and then spring it on everyone.
Of course, I'd like to see a copy of this letter of support.
And, I'm sure she'll produce that with the same committment to transparency that she'd produced the letter of intent from Target.
Oh. Wait. That's right. She never produced that, did she?
And Helen wonders why the atmosphere in her ward in venomous.
What about some Section 8 housing on Carmen? Oh, that's right, that neighborhood is exclusive, for privileged people like Alderman Shiller.
ReplyDeleteBut hey, describing her method of concentrating poverty in Uptown so she can support her lifestyle in a nicer part of town as building a plantation is offensive.
Don't we have enough Section 8 housing on Magnolia? That very block already has crime issues, why would you build more low income housing there?
ReplyDeleteI love the very first sentence
ReplyDelete"These two properties, which offer 59 units of project based Section 8 housing for families, are
among the few remaining low-income family rental properties in the Uptown community."
If you're going to lie, why not go all the way and say that the evil condo owners are forming lynch mobs and shouting racial epitaphs.
This is a perfect example of how things are not always what they seem in Uptown. What "the powers" would like you to focus on is the potential loss of Section 8 housing.
ReplyDelete"The properties are at risk of loss to the affordable housing supply because the private investors who developed the properties in the 1980’s have expressed their desire to exit the partnerships and realize the market values that are available in Uptown. If the proposed project does not go forward, it is likely that the ownership entity will opt out of the project based Section 8 contract and convert the buildings to market rate condominium ownership.
Really? Uptown must be the only neighborhood in the country that is perpetually "hot." There is an absolute glut of condos on the market in Chicago. Commercial lending is tight. So, unless these owners have some magic plan or a lot of their own money sitting on the sidelines (and a reason to spend it in Uptown) they won't be able to make a market rate property work. Therefore, government funding to continue their properties as-is is the best way to go.
Its an empty threat. However, once people start screeching about affordable housing and class warfare these facts will be irrelevant. What we've got is a sick little system: City politicians cozy up to absentee suburban landowners...deals go down behind closed doors...campaign funds flow in from out of the wards...local residents are kept in the dark by the government they pay for...civic spirit is destroyed by cyclical political dramas focusing on peoples' class, racial or ethnic differences.
The least we could all do is just call it like it is.
As I've said before, I support affordable housing and I emphatically agree that we need better policies in this area. Since this is Helen's longstanding issue I understand why she does what she does. Yet she could not do this without Daley and without the pols in Springfield refusing to take on TIF reform.
As usual, Yo always says it best! All I can say is..Wilson Yard TIF money should be spent on the Wilson Yard project! That project is nearly complete. A property that is not within the immediate project boundaries should not be used to expand the project! I've been living on a 20% pay cut for the past year and don't appreciate our Alderman spending money as if the economy was just fine!!!
ReplyDeleteIf I was asked for my "community input", I would have said "hell no". And I am a renter.
ReplyDelete4400-4559 Magnolia has enough affordable housing/section 8. It is an abuse of TIF funds if this goes ahead.
Does anyone know more about the progress of this initiative? the materials indication actions occurring in February. Has anything changed in the last two months? I know I should be asking the Alderman's office, but we know how effective that is...
ReplyDeleteNow I might not be a CDC scholar or even knowledgeable enough to be consulted for a community letter (scoff!), but I read the proposal line by line and didn't see ONE SINGLE THING calling for better management of the facility. $50,000 per unit in renovations, a computer center, an exercise room, it all sounds pretty sweet. But at the end of the day, for just a fraction of the $4mil we could have Kates security (who do great, btw) sit outside this building for the full 35 years and make a lot of people a lot less angry to have more permanent Section 8 on Magnolia.
ReplyDeleteTo be frank, I completely agree that subsidized housing is important in the greater society, and that those down on their luck deserve a place to live until they get back on their feet. Call me what you may, but I DO NOT believe that this housing should include luxury amenities such as exercise rooms and computer centers at the expense of taxpaying citizens, many of whom live in bare-bones apartments they can barely afford themselves. Guess what- if subsidized housing is like living in a brand new condo, then what motivation do residents have to EVER better themselves or their circumstances? Path of least resistance, folks, it makes much more sense to the BPS to keep dealing drugs, playing with guns, racking up arrests, affecting the quality of life of others and live like a king in Queen Helen's empire.
An unknowing bystander would get the warm fuzzies passing this proposal; however, there is NOTHING in it that indicates what will be done to protect the people living there or the people living around it. Too bad there wasn't a crime study, or a report from the CPD included in this grand plan. I say until there is something in that proposal that guarantees stricter management, security measures (cameras? guarded entrances?), drug checks, criminal record restrictions, etc,etc, that we should raise Helen about this BS. When will it be presented? That should be a matter of public record, right?
This makes me LIVID. I first read this proposal with the perspective of any random council member or resident of Chicago--if you know nothing about Uptown or even about that block of Magnolia, you would feel guilty disagreeing with the validity of the plan. And that's without even seeing the 'community support letters' which I'm sure are heartfelt and uplifting. It's disgusting to me that you can create a report, sell it to a group of people, and then have essentially a blank check to do what you want.
ReplyDeleteFor those of you who don't know much about Magnolia (I'll let clifton folks speak for themselves as I don't know the building), preserving this building as Section 8 housing for 35 YEARS (yep, read the print, it's protected for that long if approved) without taking any action to improve the basic safety needs of the residents is sentencing an entire street of residents to continue living in fear and frustration.
There are no fewer than 10 (and likely many more, I just don't have the exact data to count) scattered public housing buildings within 100 yards of this building-and that's not to mention the great brick behemoth less than 1/2 a mile away adding gobs of affordable housing. This super concentration of has made Magnolia Ave a "war zone" (as described by CPD officers) that is overrun with gang recruitment, open air drug sales, blatant disregard for law enforcement, and frequent shootings/violence. If you think the blue light camera at wilson/magnolia is nothing but a placation for the condo owners, you have lost your marbles. Take a drive up Magnolia and look at all the "for sale" signs. People aren't leaving because they are scared of the mature trees and a too-close Starbucks.
I can't tell you how many times I call 911 only to see gangbangers fleeing from the cops out of Broncho Billy Park into the courtyard of 4416-22 where another upstanding gentleman promptly locks the gate. This is like watching Meerkat Manor--there are so many open doors for the little doggies to run and hide in it is ridiculous. This particular building is out of control-maybe if Helen would have attended a recent CAPS meeting for this beat at Truman College (or ANY CAPS meeting for that matter) she could have spoken in person with the owner/manager of the building who made a plea to the police for help controlling the drug use/theft/danger that occurs. I was there-and I took the time to speak with him. He wants and needs help to keep it safe, and doesn't want the building to be a problem in the neighborhood.
The following excerpt from the letter made me laugh, and then cry:
ReplyDelete"The proposed project will satisfy the following goals of the area’s redevelopment
TIF Developer Designation- Residential 1-08
plan: Provide needed incentives to encourage a broad range of improvements in preservation,
rehabilitation and new development, and create an environment that stimulates private investment
in appropriate new construction and rehabilitation."
How exactly will it stimulate private investment?
"The properties are at risk of loss to the affordable housing supply because the private investors who developed the properties in the 1980’s have expressed their desire to exit the partnerships and realize the market values that are available in Uptown." Isn't that kinda the idea? To use TIF money to help spur development from the private sector, then let it fly?
ReplyDeleteThe 46th Ward: Where our TIF transparency program is defined as "I'm the Mommy, that's why!"
ReplyDeleteDoes anyone know what we can do to stop this? I'm all for low income housing but enough is enough in our neighborhood. If it was benefiting the people of the ward than it would be a different story but so many residents of the ward are not eligible. Can we do something positive that will enrich the lives of more people that already live here?
ReplyDeleteI don't want to wish the summer away...but 304 days until the next Aldermanic election!! How much can she cram into her final days!?!?!?
ReplyDeleteFrom the proposal:
ReplyDelete"Voice of the People is a not-for-profit community based 501(c)3 that develops and
manages quality, affordable housing for low- and moderate-income individuals and families in
Chicago's Uptown community."
Has anyone taken a look at their current properties? They are poorly managed and are in constant disrepair. And their properties are no strangers to police cars and ambulances. What a disaster.
I thought VOP wasn't doing so well financially - but I guess when your in Helen's back pocket you don't have to worry because she give you money from her TIF purse.
By the way, if she gets the building on Clifton, that block will almost entirely be low income housing, aside from two or three 6 flat condo buildings. Real good urban planning, Helen...
ReplyDeleteWho owns the building at 4416-26 N Clifton?
ReplyDeleteWho owns the building at 4416-26 N Magnolia?
Mayor Daley has already submitted the ordinance for this project.
April 14, 2010
Per unit rehabilitation cost from the TIF: $72,881
Per unit rehabilitation cost total: $278,116
Community Housing Partners X, LP is a partnership between Voice of the People of Uptown and Chicago Community Development Corporation(Remember them? Their office was also Brendan Shiller's office as well as Holsten's defense counsel's office).
Here are four firms that may have bargained their way into this "deal".
Builder: Burling Builders, Inc.
Architect: Landon Bone Baker Architects
Property Management: Metroplex
Attorney: Duane Morris LLC
The best way to rob the people is to represent them.
How exactly will it stimulate private investment?
ReplyDeleteWell, the TIF contribution is only a partial portion, a part -if you will, of the comprehensively overall financing. So, the money invested into affordable housing will spark other economic development via things which aren't as simply easy to explain as they may appear, at first - initially.
See ... it's complicated (it really is) - and unless you're in city hall, and working on this stuff every day and completely and wholly awesome, you simply can't see the positive effects of the ripples created by dropping public financing into the pond, which - on the hand - don't initially appear to be stimulating proper economic growth via properly stimulating the growth that will be stimulated through the investment in locally grown fish ... I mean, economic development.
I understand that this isn't something which is easily digestable to you dumb-asses ... I mean, you f*cking irritating god-damn condo own... I mean you fine people of the ward - so, I'll try to put this as succintly and as effectively to the point as is possible in such an atmosphere where things may not always be as conducive to the proper understandings of economic, stimulating investments with money that isn't being taken away from .. or, rather, is being added to - and I'll go so far as to say: augment the general betterment of the city via the diverse development of already existing developments, which aren't already fully developed to the extent that they could be without the proper stimulating fators brought forth by the use of TIF funds, where such things need to be stimulated.
Or in this case, augmented.
Since it's the augmentation of the stimulating aspects of economic growth which will bring to bear the fruits of our diversity in these troubling times where everyone needs something to believe in and this project will give people something comprehensively augmenting to believe in.
And that, and in turn, you see, will spark the fabric of our diverse society into a broad melting pot of a quilt, which we weave through sacrifice and contributions from everyone who finds it difficult not to be included into the broader market forces which dictate how the markets forces dictate the necessity of what we're trying to accomplish.
And that's through private investment.
Geesh ... why's those things so difficult to understand?
FYI: The lender of last resort for this project is President Obama. Most of the funds are coming from the "green" accounts created by the stimulus.
ReplyDeleteYo, that sounds like it could have come straight out of the mouth of Carol Mosley Babble!!!! Love it!
ReplyDeleteIf there is going to be a CDC meeting for this, we need to have a map of Sheridan Park with the low income properties highlighted so the board members can see a visual of just how stupid this plan is.
ReplyDeleteWe all know the CDC won't listen to words, maybe pictures would help - of course its hard for them to break out of their rubber stamp mentality.
A map of the area and which places are section 8 would be terrific. Anyone have access to one?
ReplyDeleteThose blocks are PLAGUED with problems and here is yet another MISSED opportunity to start to really balance out the neighborhood and encourage some new, responsible PRIVATE investors to Uptown.
ReplyDeleteIt is more important than ever that this women be stopped (in my opinion). There are new units in Wilson Yard. I would think the 59 units would be thrilled to move to new construction in the SAME NEIGHBORHOOD.
The nightmare continues. This is CLEARLY backtracking. There is nothing wrong with low income housing in Uptown, but we have ENOUGH of it.
We all know the CDC won't listen to words, maybe pictures would help - of course its hard for them to break out of their rubber stamp mentality.
ReplyDeleteIt's also difficult for them to fully comprehend the issue set before them if they aren't in attendance, or ... aren't awake.
I noticed a lot of droopy eyelids and empty seats at the WYTIF CDC meeting, last summer.
Then again, I find pointless dog and pony shows boring, as well.
Especially if the decision had already been made prior to the meeting.
What irks me about Helen and her group of fellow activists is that they continue the failed 1950's plan of segregating poor people into densely populated, high-crime areas. HUD and the CHA opted years ago to stop building 100% low income buildings and instead implemented a Section 8 voucher program that allows the individual to move into private rentals with government subsidies. The benefit is that people can move into lower crime, better education neighborhood where they will more likely get a job.
ReplyDeleteHelen and her buddies do not believe in assimilation of the poor into the general community. They believe the poor and disabled should be concentrated into small geographic areas where they can form a political base, which, of course, Shiller intends to lead. In the computer age, there is no reason to herd poor, mentally ill, and disabled persons into these leper colonies for their voice to be heard.
While Uptown is already the #5 community where individual vouchers are utilized by individuals to acquire private housing (which Shiller uses TIF funds to renovate for the private developers) it is also home to another kind of Section 8 housing, called project Section 8. Project Section makes large sections (or in Uptown the entire building) a section 8 recipient. The Project Section 8 building becomes the recipient of HUD Section 8 money. If a tenant moves out, he/she no is no longer subsidized as the money stays with the building. Project Section 8 gets low cost federal financing with a loan agreement in which the private owner agrees to keep the building in the Project Section 8 program for 25-35 years.
Uptown is one of the most concentrated areas of project Section 8 in the city. VOP and Shiller have worked together for years to funnel ward infrastructure money to project Section 8 developers. Now these same developers, who see their loans coming to maturity, want to exit the program. So, Shiller is funneling TIF money to rehab their buildings for them or to buy them out to initiate another 35 year contract with another buddy buyer.
Tony Fusco (Chicago Community Development Corp) has been benefiting from this property churning. In the Lake Effect News article about his sale of 850 West Eastwood to Mercy Housing, Fusco claims to be getting out of the business. Yet, he seems to unloading the properties that he and VOP and Shiller worked to acquire for Project Section 8 conversion in the 1960's to other low income housing managers while he converts new Uptown properties to Project Section 8 using TIF subsidies.
The end result is the creation of more and more 100% low income housing buildings in Uptown under the HUD Project Section 8 program.
CCDC listen? Not likely. Read Tony Fusco's bio at the CCDC website.
ReplyDeleteHe is another former City of Chicago guy who left his city job (as CHA contract lawyer) to profit from his city connections. he is now a recipient of city funding in a new job closely associated with his former city department, which controls that controls the funding that now flows to him.
http://www.chicagocdc.com/staff.php
Will this madness never end?! I say we protest the gross mismanagemnt and spending of the TIF money by not paying our taxes anymore. Or, since Helen loves to buy, renovate, and build section 8 housing at above market pricing, lets all get together as evil condo owners and sell our condo's and homes to her at inflated prices. This should make her extremely happy. She gets her ward to be completely section 8 and get rid of the "evil condo owners". She can get more social services, have tons of labor ready offices, fish farms on every corner, and have a constituent base that will vote for her until she dies. Maybe even be known world wide for being a great leader in humanitarian rights (all hail Saint Helen Shiller!).
ReplyDeleteIf you want this to change, the quickest route is to vote her out of office. That's where people should be focusing their energy.
ReplyDeleteIf you don't know much about where a particular candidate stands, then find out by going to their website on call them. With Helen teetering on what she should do, I'm focusing on the person I think who has the best chance of beating her and who also can communicate well on the issues that are important to me.
Has anyone ever tried reporting the problems being discussed to HUD directly?
ReplyDeletehttp://www.hud.gov/offices/oig/hotline/
This is from the HUD website: WHAT DOES THE OIG HOTLINE DO? We take reports of fraud, waste, abuse, and serious mismanagement in HUD-funded programs and operations and refer such allegations to OIG investigators and auditors, or to HUD program officials to ensure that allegations of wrongdoing are independently addressed.
This activity (cramming more and more low income housing into an isolated area) seems to meet the definition of Waste (WASTE - individuals, groups, or businesses that are spending taxpayers' monies in a manner that does not further HUD's mission and goals.) or Serious Mismanagement (SERIOUS MISMANAGEMENT - a significant failure by a HUD program office or a program office entity that is due to managerial incompetence or inattention.)
HUD's own publications indicate this is a bad practice (See HUD-2003-15-CPD):
"Most housing professionals agree that concentrating assisted-housing for low- and very low-income Americans in dense, urban areas is not an effective use of scarce affordable housing resources. Over the past decade, professionals in the affordable housing industry have turned increasingly to mixed-income housing as an alternative to traditional assisted-housing initiatives. Mixed-income housing is an attractive option because, in addition to creating housing units for occupancy by low-income households, it also contributes to the diversity and stability of American communities."
Surely, this continuous misuse of public funds amounts to waste. If the City of Chicago won't fix it, maybe the feds will? It may be worth a try.
I'm with you holey moley, but she's gonna ramrod this in before the election.
ReplyDeleteSo this will be an additional 59 units of guaranteed votes for her, on top of the already 180 units from WY. And with the likelihood of more than 1 person of voting age per unit - that's a lot of votes.... votes bought for her from the WY TIF.
I know these people can think for themselves and vote for who they want, but if Helen is making your place look nicer, why wouldn't you vote for her?
If we're looking for candidate positions on this issue, let's start with Don Nowotny. It seems his website has removed "Issues" as a category to review, but there's no reason he cannot comment on whether he is for or against this multi-million dollar expenditure.
ReplyDeletePeople have suggested that his candidacy is just cover so that Helen can spend the summer hiding from the press. If he's more than just a distraction for her benefit, it's time for him to take a position on this issue. Otherwise, it's time to ignore him.
Glad I moved away when I did...some things never change.
ReplyDeleteOtherwise, it's time to ignore him.
ReplyDeleteI'm already at that point with him.
Granted, it's professional courtesy to give your boss a heads up when looking into other things - as Don rightfully did; but, when that boss is a close friend of the mayor's, that (fairly or otherwise) casts your lot in with his - and, by extension, the mayor's.
I'm sick and tired of the Chicago machine regurgitating its failing policies via proxies.
Whomever I vote for wil be as far removed from the status quo as humanly possible.
Sorry, Don. I'm just not that into you.
To be fair, it seems that the units are already occupied... This money is just for renovation. Whether or not this produces new votes for Shiller is unclear.
ReplyDeleteThese are both "problem" blocks (drugs and violence) that would benefit from the de-subsidization of these two buildings.
ReplyDeleteI spoke with the Alderman's Office. The woman I spoke with was unaware of TIF funds being used but indicated she thought they had assisted with a transition to new management. She indicated they recognized the old management was not satisfactorily overseeing the building including screening of tenants. I forwarded her a copy of the doc associated with this posting and she's going to follow up Monday with Shiller...will keep you posted, though i'm not optimistic we'll hear too much.
ReplyDeleteMike, to be fair, why should we have to pay for this renovation?
ReplyDeleteYes, it is already Project Section 8. The problem is that the city and HUD are signing contracts that funnel huge loan discounts to Project Section 8 building owners to keep housing affordable. They usually match the loan with grants to renovate the property. BUT, then private owners let the buildings run down into building code violation and crime pits. One can send in city service requests to the building department, but (ever so magically) the building inspectors clear the 311 calls with "problem not found" and "problem resolved" the problem is not addressed at all.
ReplyDeleteThen, when private owner wants out of the loan contract terms or another wad of cash, the alderman and city reward them for their bad behavior with renovation money grants to support a HUD project Section 8 renewal.
And that is where the Obama stimulus money is going also.
Meanwhile Uptown's infrastructure, bridges, a sewers deteriorate from lack of funds because our local neighborhood TIF and aldermanic menu funds are siphoned away to pay for this bloat outside the city's regular budget. There is little or no accountability by the Housing Department or CHA where the alderman is willing to strip her own ward of it's infrastructure.
Hell, she even gave our 4400 N Clifton Avenue ward superintendent's office away making us one of only two Chicago wards without a street and sanitation facility.
Sure, Sure, Sure. Alderman Shiller couldn't inform her constituents that this was going on because she had no idea that it was happening.
ReplyDeleteThat is why the item that is before the city council has this clause:
"Alderman Shiller endorses the project and has provided a letter of support (see exhibits for copy)."
Has anyone ever seen a politician so willing to lie through her teeth to her constituents. Oh yeah, there is that Blago guy...
$278K to renovate an apartment? Give me 20k and my rental unit would be pretty kick a-s
ReplyDeleteIn regards to voting her out of office. Will it be bad if too many candidates run against her? The vote gets split among too many. Right?
I'd be very curious to know who wrote the "community letters of support"?
ReplyDeleteThe block clubs around Clifton and Magnolia? Ummm, no.
UCC? Ummm, no.
Looking into my crystal ball, I'm seeing O.N.E. and Couraj, the same "support" that convinced Labor Ready that Uptown was just begging for a day labor shop.
Just who wrote those warm and fuzzy letters of support that you presented, Ald. Shiller? I wonder how much of THEIR property tax money is going into your slush fund?
Bluestreak, the number of candidates could help. It's an election where you need 50% of the vote to win. If you don't get 50% of the vote in the first election, then you go into a run-off against the candidate who comes in 2nd place.
ReplyDeleteIf you have 7 people run, you have to figure they would bring out at least some people to vote who otherwise would not have voted at all. That raises the total percentage of vote and decreases the odds that Shiller will get 50% of the vote.
Also if you have multiple candidates and they all run against Shiller, there is more potential to get this kind of stuff out in the air and spread to voters. Time will tell if some of these candidates are Shiller Shills and they start attacking some of the other candidates.
This makes me sick. First WY, now this? Let's just slap "New Cabrini Green" all over that area.
ReplyDeleteI hope to hear a backlash from each candidate or else I'm just going to add them to the ignore list.
@uptownours, I didn't suggest or imply we should. I have plenty of issues with the plan. I was merely refuting the idea that this would necessarily produce add'l Shiller votes.
ReplyDeleteThe truth about this is that there is little or nothing that can realistically be done to stop it.
ReplyDeleteOnce the machine,Daley/Shiller, makes this type of decision the chances of stopping them are slightly better than the chance of the Cubs ever winning the World Series. It could happen, but don't expect to live to see it.
Nope, you fight this with the foreknowledge that the real fight will be next February on election day and may go beyond that to an April runoff.
Vive la Revolution!
It'll be heaven in 2011!
Satan for Alderman! Could he be any worse?
yo- you seem to be one of the most informed posters on this topic. Can you fill the rest of us in a bit more by answering these questions?
ReplyDeleteCan you let us know if this is finalized and will happen for sure?
Will there be a public meeting for ward residents?
Is this something that we, the residents, can stop?
How or can residents influence the budget and how money is spent in the ward?
There are many people such as myself that are willing to help and attend the meetings and do what we can but I'm not informed enough on how local government works and it's just confusing when trying to learn via reading about it on the internet.
For residents such as myself, who can "hold our hand" and explain these things so I can feel informed and help better the ward by supporting or opposing certain initiatives?
What if a private developer came along and offered to buy the buildings from the owners today for a pretty sweet deal? Would that stop our TIF dollars from being used as Shiller wants? If I had the money I'd buy both buildings and fix them up myself and rent them myself or convert them to condos myself! Why don't we try and find someone that has the ability to buy them privately?
ReplyDeleteYou have to go to HUD to complain the the City of Chicago and Illinois are violating the Fair Housing Act and their affirmative duty to open up the entire city to the protected class residents of these properties, i.e. minorities, women, disabled mentally ill, and even gays under Illinois law.
ReplyDeleteThe City administers the HUD funding and stimulus money that ultimately flows to these projects. The city reports its compliance with federal goals via it's Consolidated Plans. The city has divided itself into reporting quadrants and we lie in the North Region. The city tells the feds in its consolidated plan that it is opening the entire city up to these persons but they lie, lie, lie with statistics.
The city is packing Uptown and Rogers Park with this housing and in so doing, they are avoiding putting any diverse housing in the other wards that comprise the North Regions. Those North western Chicago wards send their mentally ill and disabled persons here and do not take federal housing for poor persons. So, while the Consolidated Plan shows a distribution across all quadrants, it does not report the Fair Housing violations they perpetrate within one particular quadrant.
Here is what you need to file a claim against the state, city, alderman, etc that do not meet their OBLIGATION to AFFIRMATIVELY ADMINISTER the federal housing program monies, stimulus monies, and other federal funds in a manner that integrates.
1. You need some good complainants, those who are harmed by this pattern of abuse.
2. You need to prove up enough harm/ damages to those persons and the community to make the claim.
3. After that, HUD must do the investigation and do the legal work to go after the city.
Amazingly, no one has ever filed such a complaint in Chicago or the Chicago North Consolidated Plan Region.
liliki
ReplyDeleteLook at all the minutes from the Community Development Commission and notice their voting. If you see any vote that has ever occurred at any meeting that wasn't unanimous, let me know. Every commissioner ALWAYS votes yes on anything presented to them. No exceptions. Ever. Period. End of story.
The only way to stop this is with a new alderman.
Shockingly stupid. How low can this go.
ReplyDeleteA new Police station on Magnolia would be money better spent.
Mo money (taxpayer money) = Mo voters (for me) = Mo money (taxpayer money)
ReplyDeleteDoes anyone know who owns these buildings?
ReplyDeleteWhomever owns them uses Michael Madigan's law firm for their property tax appeals.
liliki - I am by no means an expert on this project.
ReplyDeleteAnd, it's not that I (nor, honestly, a majority of folks here) have an issue with people being provided a chance to better their living arrangements. Even with tax dollars, if need be.
If anything, an improved living condition should motivate people to better their lives.
My issue is with how this is being arranged, and with our alderman's priorities.
Our alderman is acutely aware that her constituents demand accountability from her office; and, despite promises to do so, we're still not seeing any.
I don't necessarily want to see this project stopped. What I do want is to be included in the process - and to be assured that all voices are being heard.
An alderman's job, first and foremost, is to care for the entire ward in such a manner that benefits the majority.
Not just the voices of a majority of her supporters.
She's been moving this project along knowing full well there would be issues were she to reveal this to the public, at large.
Again, I don't have issue with helping people out; but, it needs to be done in a responsible, respectable and honest manner.
Ask yourself this: how much property tax money has been given to private developers and to a small number of people, compared to how much has been invested in the infrastructure of the 46th ward?
$50M-some to Holsten and Target (a mammoth retail establishmnet who isn't hurting for money, by the way).
$10's of millions proposed for everything from fish farms to a housing development which, in my opinion, threatens to place a load on our crumbling infrastructure which it simply cannot support.
So, round it off - $100M, give or take, to a slew of projects while only $3M goes to the major transportation hub at the nexus of her little project area.
My "advice" to you is this:
Ask yourself if the projects our elected officials are working on, and the avenues through which they intend to fund those projects sound logical.
Then ask yourself if those projects support the well being of the general community.
If the answers to either of those is "no", then tell your friends.
As an aside, especially in this political atmosphere, don't ever allow anyone to "hold your hand" through making your own decisions.
Supporters of Citizens for Shiller own both of these properties. These supporters are also financial lenders to the not for profit organizations that are slated to receive funds from the TIF as part of these expenditures. The funds distributed by these supporters are derived from tax exempt organizations. These supporters are also fundraisers for Barack Obama.
ReplyDeleteExamining the books it clearly appears that the owners of the property select a management company, the property owners fund the not for profit that managers their property, the property managers make up their board of directors with residents that live in the property, and the property managers financially and politically support the Alderman that advocates for public subsidy to increase the value of the property.
How is this legal?
Oh, how I wish the Tribune would expose all this to the world!
ReplyDeleteThe Tribune is focusing on the big fish, ie Madigan & Getzendanner, which is the most active property tax fixer in the state. M&G fixed the property tax rates for both of these properties in question.
ReplyDeleteM&G is the whale. The entities in question here are the slithery smelt that groom the whale.
I'd be very curious to know who wrote the "community letters of support"
ReplyDeleteFOIA them, you can know in 7 working days
the letters of support are a legit FOIA target
DCD handles FOIA for CDC, DCD prepares a report and a package of documents for each CDC commissioner, you could ask for a copy of that, be sure to ask for the complate package and all attachments; if you just ask for the letters be careful to ask for ALL letters - don't let DCD decide which are for & which are agin
Has anyone ever tried reporting the problems being discussed to HUD directly?
ReplyDeletethis is a great idea - try to rainse the issue of concentration
a map of Sheridan Park with the low income properties highlighted
ReplyDeletethis is a great idea
The main "public hearing" on this expenditure of public funds was before the CDC last month
ReplyDeleteCOMMUNITY DEVELOPMENT COMMISSION March 9, 2010 MINUTES
the CDC hearing was the public's main opportunity to provide input on this decision
we missed it - we should figure out why
normally the Mayor introduces the ordinance after CDC approval
the next step to look for is the consideration of this proposed ordinance by the Finance committee of the City Council
The next regular meeting of the Chicago City Council will be held on Wednesday, May 12, 2010 at 10:00 a.m.
normally the Finance committee meets on the Monday before the full city Council meeting, maybe sooner of they have a full agenda
a Finance committee meeting is scheduled for Monday 5/10, no agenda posted yet
City Council calendar
the public may or may not be permitted to speak at the Finance committee meeting
from the CDC minutes, another interesting FOIA target for a concerned citizen, these CDC transcripts are fascinating reads for those with the stomach to examine how policy is made in Chicago, highly recommended since we missed it (sniffle), next best thing to being there:
ReplyDelete"A court reporter was present to record the proceedings. A transcript is available for the purpose of pursuing all matters in greater detail and is a part of the permanent public record of this Regular Meeting of the Community Development Commission."
perhaps herself was there and spoke, that would be challenging for any stenographer
who knows? maybe a commissioner even asked a question!
the city's DCD project manager reads into the record the report we already have, but sometimes in response to questions the presenters make significant claims or representations not in the report
Who owns the building at 4416-26 N Clifton?
ReplyDeletePIN 14-17-224-016
Clifton Apartments, LLC
200 E RANDOLPH ST STE 2100
CHICAGO, IL 60601-6432
taxpayer of record is Metroplex Clifton at the same address
Who owns the building at 4416-26 N Magnolia?
PIN 14-17-124-016
Magnolia Apartments, LLC
200 E RANDOLPH ST STE 2100
CHICAGO, IL 60601-6432
taxpayer of record is Magnolia Apartments at the same address
also in Suite 2100 in the Aon bldg:
ReplyDeleteMetroplex Inc, a for-profit Illinois corporation
President
JANE F HUYNH
133 S ELA ROAD
INVERNESS 60067
tony zip code!
Secretary
SHELDON L BASKIN
444 W GRANT PLACE
CHICAGO 60614
Park West!
also in the same suite: Sheldon L Baskin & Associates, real estate brokerage
and their not-for-profit Illinois corporation filing federally as tax-exempt 501(c)(3) private foundation:
Technical Assistance Corporation For Housing
Metroplex also runs:
Hazel-Winthrop Apartments
4861 North Kenmore
Baskin is among Obama's biggest Chicago fundraisers, according to Greg Hinz in Crain's
ReplyDeleteMeet Obama's bundlers
in my experience with CDC hearings, if one question gets asked of the presenters, it's from commissioner Anne Kostiner:
ReplyDelete"Were any community meetings held on this proposal?"
Kostiner was there, I'd luv someone to pull the transcript
from the City website:
ReplyDeleteCommunity Development Commission
The Community Development Commission was established by the Chicago City Council in 1992 to assume the duties of the former Commercial District Development Commission and the Department of Urban Renewal. The CDC reviews and recommends action to the City Council on the establishment of new Tax Increment Financing districts, Redevelopment Area designations, and appointment of members to Community Conservation Councils. The CDC also reviews and recommends action on the sale of city-owned property located in TIF districts or redevelopment areas, and the provision of TIF financing to assist private redevelopment projects. The CDC is composed of 15 members appointed by the mayor and confirmed by the council. Members continue to serve on the commission until their successors are appointed and qualified.
Members
* Laura Hassan
* Anne Kostiner
* Clyde Martin
* Lyle Logan
* Margaret Garner
* James Bland
* Jonathan Stein
* Rafael Leon
* Sonya Malunda
* Ellen Sahli
* Vacant
* Vacant
* Vacant
* Vacant
* Vacant
from the CDC minutes:
ReplyDeletePresent
Jonathan Stein, Acting Chairman
Laura Hassan, Vice Chairman
Anne Kostiner
Lyle Logan
Clyde Martin
Ellen Sahli
Not Present
Jim Bland
Margaret Garner
Rafael Leon
Sonya Malunda
...
Motioned by Logan, seconded by Martin. Approved 6-0. Hassan, Kostiner,
Logan, Martin, Sahli and Stein
may i observe that the taxpaying public is currently 33% under-represented on our Community Development Commission, the main body charged with holding public hearings on and approving TIF expenditires in Chicago
ReplyDeletemay i point out that our Mayor is in charge of appointments to fill vacancies
may i further observe that 6 might be considered a quorum of a body with 15 seats (50% + 1) only if the vacancies are not considered
seems like public input and democracy are not concerns of our mayor
perhaps a smaller group suits his purposes
no need to rush to fill those vacancies!
Hugh: Ever heard of Sheldon L. Baskin? How about Grant Place Community Development Corporation?
ReplyDeleteSheldon Baskin -> Citizens For Shiller
ReplyDelete11/10/08 $250
02/02/07 $300
01/28/07 $250
06/22/06 $250
11/28/05 $250
06/15/05 $250
12/01/04 $250
02/19/03 $250
08/08/02 $250
11/01/00 $100
07/01/00 $250
I'm suddenly fascinated by Grant Place Community Development Corporation, wish I understood it better, what do you know?
ReplyDeletecuriouser & curiouser when I look them up on guidestar and find 990's - with all the numbers redacted!
ReplyDeletemy nominees for the 5 CDC vacancies in case Mayor Daley is reading:
ReplyDelete1. myself
2. Irish Pirate
3. Ben Joravsky
4. Greg Hinz
5. Kathryn Boyda
the current owner of these 2 bldgs is a for-profit low-income housing mgmt firm who happens to favor herself's unique style of politics, so much so they offer financial assistance to her in retaining her pulpit
ReplyDeletebut the REAL abondonza for herself's re-election is the NEW owners, old pals Chicago Community Development Corporation, another for-profit low-income housing mgmt firm who happens to be favor herself's unique style of politics, so much so they offer financial assistance
let's review, shall we?
CCDC -> Citizens for Shiller
$1,000.00 5/26/2009
$300.00 6/26/2008
$1,000.00 6/5/2007
$1,000.00 8/10/2006
$500.00 12/12/2005
$500.00 12/20/2004
$500.00 8/8/2002
$500.00 6/28/2001
$250.00 1/7/2001
$250.00 1/7/2001
massive fresh subsidy to a returning recipient of massive subsidies who also happens to be a massive campaign contributor? this is as close to an announcement as you get, neighbors!
TIF dollars are property tax dollars
ReplyDeletea portion of every TIF subsidy ends up in the campaign war chests of incumbents
In Chicago TIF amounts to publicly-funded political campaigns - for incumbents only
Sheldon Baskin and his family foundation, since renamed to Grant Place Community Development Corporation, of which the board members are Sheldon, Judy Wise, and Hadassah Baskin. GPCDC loaned Voice of the People in Uptown, Inc. $135,000.
ReplyDelete200 e randolph, suite 2100 is as strong a pivot as 36 s wabash, suite 1310.
ReplyDeleteYou can trace tens of millions of dollars in government subsidy to for profit corporations at both of these locations. Here are the names I've been able to locate.
Sheldon Baskin
Judy Wise
Ralph Brown
William DeWoskin
Henry Hyatt
James Buchholz
John Kennedy
Daniel Epstein
The same players managed a nice score in the 47th Ward with the North Center Senior Housing development at Irving and Western. It was developed by Technical Assistance Housing Corporation(TACH, aka TACH Serivces, aka TACH INC).
Hugh,
ReplyDeleteI doubt the Mayor would want me on any city board.
He might want my oldest brother though. Oldest brother does a dead on impression of our glorious mayor and could entertain him at various dinners held at fine restaurants and could prank call the alderman and put the fear of "da mare" into them.
Being that it is "Confederate History Month" I've been rereading the memoirs of US Grant. Next, I shall read for the first time William Tecumseh Sherman's writings and then send a copy to the confederate loving Governor of Virgina. Nothing scares the "secessh" more than the three words "William Tecumseh Sherman".
It's like yelling "potato famine" in Western Ireland. They all shriek.
I'd like to sneak up behind "hizzoner" and yell "Da Feds are here with subpoenas and arrest warrants" and see him collapse to the floor babbling.
Grant wrote: "Nations, like individuals, are punished for their transgressions."
I'm beginning to think that applies to cities also. We've put up with the cronyism and corruption of politics in this city and state for generations. Now the bills have to be paid.
I voted for Daley back in the 83 primary he lost and in 89. I too am not blameless.
Shiller is using TIF to launder public money into her campaign.
ReplyDeletehttp://cclfchicago.org/loans/voice-people
ReplyDeleteMan... I bet she hates dat der interweb.
ReplyDeleteIP, if drafted you would not serve?
ReplyDeleteok, strike IP and add Mike Quigley
and if Quigley can't make it back home for one afternoon a month, Valerie Leonard would be great
the allure of for-profit as opposed to non-profit low-income housing bldg mgmt firms is for-profits are free to kick-back in the wild, wild west of campaign financing in Illinois
ReplyDeleteTo be frank, I completely agree that subsidized housing is important in the greater society, and that those down on their luck deserve a place to live..."
ReplyDeletefor me it takes all the satisfaction one might normally derive out of helping one's fellow man once I understand that we're also helping re-elect really, really bad incumbent elected officials
A question I have after reading DCD's report to the CDC:
ReplyDelete"PROPOSED DEVELOPMENT TEAM
Development Entity: Community Housing Partners X L.P., an Illinois limited partnership consisting of Voice of the People in Uptown, Inc. and the Chicago Community Development Corporation as co-general partners..."
So exactly how did Chicago Community Development Corporation and Voice of the People in Uptown, Inc. end up sitting at that table together in our Council chambers, introduced to our Community Development Commission by our Department of Community Development, presenting their project and asking for $4.3M from us taxpayers?
Any hint of an answer to this basic question is conspicuously absent from the DCD report.
Neither CCCD nor VOPU owns the property that we taxpayers are being asked to pay for capital improvments to. Community Housing Partners X L.P. is listed at different points as "Applicant," "Proposed Development Team," "Development Entity," and "the developer."
Now thanks to the generousity of the Daley administration with our money, we taxpayers have in the past subidized developers to purchase as well as develop properties. But when we do, normally what you might expect to see in the report is an attached purchase agreement or at least mention of the applicant securing an option to buy. Or we might expect the report to include a description of the developer selection process: how the opportunity was advertized, how long it was open, how many respondents there were. Some of you may recall the City claims Holsten was found through a search. We have nothing like that here. They're not even bothering with a sham.
Recall that the original idea of TIF is that a small percentage of public dollars can attract development to a project that otherwise would not happen.
"Community Housing Partners X L.P. ... was formed to acquire and preserve as affordable housing the 59-unit apartment complex known as the Clifton Magnolia Apartments."
The very existence of the applicant disqualifies them from eligibility for TIF subsidies: there is no need to attract investors. The project may be eligible on its merits for other public subsidies, but TIF is inappropriate.
In Chicago TIF has been subverted into a general method for directing public money to an arbitrary entity of the Daley administration's choosing, at the whim of the administration, with minimal process and no accountability. The City giving cash to a favored developer is an intervention in the real estate market in Chicago.
In my humble experience this is a new low in TIF transparency in Chicago, hard as that might be to believe.
Hugh,
ReplyDeletethat's a good description for politics in Uptown and Chicago.
"Striving for new lows, The Daley Way".
Shiller, along with any alderman that provides section 8 housing in their wards should be required to live smack in the middle of it.
ReplyDeleteAt this point in our country affordable housing is not helping people get back on their feet. It's allowing them to stay smack on their asses. Anyone that is provided free or subsidized housing should be smacked with a credit bill for any expense they create to the community outside of their necessities. Every time the CPD, an ambulance or fire dept. is called to a scene... violence, drug offense, traffic violation, gun violation (including the hospital cost of a gunshot victim)... the cost (or partial cost... I can be nice) of our public service should be charged to them. If I ever need an ambulance, the bill would be on me, and I can't afford it either, but I still would be slapped with a bill to pay off so shouldn't they?
If the little gang bangers can find money to buy gold teeth, tattoos, drugs, bullets, baggy clothes... then they can be slapped with a bill and have to work it off just like the rest of us.
Off subject a little but connects in with welfare and free things... A friend of mine just told me a story the other day that made me sick...
She is an elementary school teacher in Chicago. In her school there was a poor family with 6 children. The father died two years ago to cirrhosis of the liver, but that's another story. Anyway to help the mother and family out the teachers in her school set up a fund for the mother while she was trying to get things together for herself and children. They bought all kinds of things for their house, a fridge, beds for the kids, christmas presents for all of them etc. Well, instead of the mother showing any kind of gratitude she began to ask for more things from the school and teachers. She even had the nerve to become a little demanding. All of the teachers were so hurt by their efforts. I thought this was just a special incident but my friend sadly informed me that it's pretty much the normal way of thinking for most of the "families" in her school. Which truly hurts the families that really need help and would be grateful. The problem here is that most of the demanding people are from a family that is stuck in the cycle of welfare and see no alternative so for them it's normal to be given something for nothing.
What they need is to be forced to provide for themselves. If there is no end date or check ups to those receiving welfare or public housing they will never change their behaviors. Why would they if they can have a cheap or free house vs. having to work for one.
I hope more people in the area, Chicago, Illinois and the country, are opening their eyes to what is happening. If we don't we will lose this neighborhood and others in a few very short years. I think the additions in Uptown of more section 8 housing was a part of Daley's plan to move people out of the areas he wanted for the Olympics, he had to find someplace, Uptown was just one of those places and Shiller got more money for it.
Hugh: In regards to these for profit ventures, is there any regulation that requires them to file financial statements, shareholder information, etc with the city, state, or feds?
ReplyDeleteanother new low
ReplyDeleteA look at the numbers. Read along, pages 5 and 6.
FINANCIAL STRUCTURE
The proposal doesn't say what the developers will do with $2.5M of the $4.3M in TIF subsidies they are asking for.
The project budget is $16.4M of which $4.3M or 26% is TIF. The rest is federal funds and tax credits through the state. No capital from the partners, Voice of the People in Uptown, Inc. or Chicago Community Development Corporation. This is a purely public works project. However, when the City writes up this project in the Wilson Yard TIF annual report in July, 2011, it will be written up as a 26% public subsidy leveraging 74% "private" investment.
The $4.3M TIF subsidy is delivered in 2 chunks, $1.8M at closing on the purchase and $2.5M at project completion. The proposal outlines sources and uses of funds. The sources foot with the uses, $16.4M. The early chunk, the $1.8M at closing, is included in the sources. But the $2.M project completion bonus is not! The $2.5M project completion fee is off-budget. If we take the budget outlined in the proposal at face value, TIF is contributing $2.5M that the project does not need.
Again, in my humble experiencing of examining TIF deals, this is an unprecedented new low in Chicago TIF transparency, blatantly allocating public funds to an undocumented private purpose.
Allocating TIF funds without a clearly stated purpose is in flagrant violation of state law. Illinois state law restricts the use of TIF funds to certain specific uses, which include land acquisition and construction (so-called "bricks and mortar") and requires a municipality to certify that TIF subsidies are used only for those purposes. By budgeting $2.5M without a stated purpose the City is denying our right as citizens to evaluate the compliance of this proposal with state law.
Our Department of Community Development and our Community Development Commission failed us by approving a project including an expenditure of $2.5M in taxpayer fund with no stated purpose. TIF is a slush fund, but this particular TIF deal is especially slushy.
I am of course loathe to speculate, but absent a stated use for the $2.5M completion payment, I can only assume this cash is to fund the operation of one or both of the partners, Voice of the People in Uptown, Inc. or Chicago Community Development Corporation, perhaps to fund the ongoing operation of these organizations, or to fund the ongoing operation of the social experiment aspects of this proposal, such as operating the on-site computer center and health club. However, operating costs are not eligible TIF expenses.
Why am I not surprised that 4416 N Magnolia shows up in my database as the former address of "Stop Criminalization in Uptown", phone number (773) 769-2085?
ReplyDeleteWhy am I not surprised that the organization's address has recently changed to the McJunkin building at 4554 N Broadway?
Why not just cut to the chase and hand a whopping, big $4 million taxpayer check to Couraj and the Gangster Disciples living in the VOP's Sunnyside property and CCDC's other property at 830 West Eastwood?
773-769-xxxx numbers are quick lease and release lines.
ReplyDeleteBrennan said...
ReplyDelete773-769-xxxx numbers are quick lease and release lines.
ohmigosh, should I call AT&T and let them know? They gave me a 769 number when I moved here 12 years ago!
We taxpayers are picking up $4.3M, and $4M of the $16M project is going to Burling Builders, Elzie Higginbottom's contracting firm. Elzie is one diversified guy. He is most familiar perhaps as the landlord of the Brunswick Building, that houses County offices and had a little fire & smoke problem a while back. But most significantly Higgsie chaired the First CD Victory PAC, the political action committee Daley used during the last municipal election cycle to funnel cash from WalMart and Walgreens to incumbent aldermen Daley wanted to preserve.
ReplyDeleteyeah, you read that right, we're shelling out a $16M subsidy to accomplish $4M in rehab work, your gummint @ work
ReplyDeleteto funnel cash from WalMart and Walgreens to incumbent aldermen Daley wanted to preserve.
ReplyDeleteInteresting.
So what does it mean when Walgreens (as we've seen in the most recent D2's) goes ahead and contributes directly to the alderman's campaign?
Anything more than some greased skids for liquor sales?
YOU PEOPLE ARE REALLY SLOW. Alderman Shiller is not buying the property. The TIF does not allow for the addition of any units, these buildings have been low-income and in your neighborhood for almost 30 years!!!!!
ReplyDeleteVOICE is still an owner, and since there have not been 30 year contracts for subsidized units, the contract has to be renewed by the owners. As a tenant we are notified every year when the contract expires and the owners intent to renew it. What happens if the contract is not renewed by HUD is that tenants would have the option to stay or get a voucher to move.
How about you stop trying to put the Alderman on whatever hate list you are throwing around, and LEARN THE FACTS. Lakeview News should know better!
Anything more than some greased skids for liquor sales?
ReplyDeleteIt means when you can take a public street away when it suits your needs.
Others can fill you in on the details if you're not up to speed.
continuing our ramble thru our home town's Department of Community Development staff report
ReplyDeletein an early post, we pointed out that the partners are putting NONE of their own capital at risk. Zero. Zilch. Nada. Other people's money, by which i mean of course yours. ours. taxpayers.
so do we get a public building out of the deal? oh, no, no, no! the building is and will be a privately held, publicly improved real estate asset.
today I take keyboard in hand to make a further point: the partners are not risking their PROFIT either. We taxpayers are GUARANTEEING the partners, Chicago Community Development Corporation and Voice of the People Uptown, Inc, make money on this deal
See the Staff Report. See page 5. See:
Developer Fee (10% of total project cost) $1,654,292
Fusco & Burke & VOP make money, no matter what, hell or high h20. they can't fail. how nice for them.
next thing to notice is the amazing co-ink-a-dink of the close correspondence between the up-front, "payment at closing" and the "developer's fee"
TIF Payment at Closing $1,765,000
Fusco & Burke said they would do this thing if we taxpayers would guarantee them their profit and if we would pay them up front, and the Daley administration said, sure, no problem on our behalf
At this point in our economy I'm very sure there are any number of real estate developers and rehabbers who would jump at a chance to make $1.6M guaranteed, but they were not given an opportunity
Puhleez! Helen just built that 2 block long monolith on B'way and Montrose! How can she say she needs this? Capstone is right. Uptown property owners and residents should not have to shoulder the subsidized housing burden alone. It's time Lakeview, Bucktown, Lincoln Park, the Gold Coast and the Loop pull their fair share of the load.
ReplyDeletePlease correct me if I'm wrong,from what I heard, W/Y is NOT strictly low low low income. A hard working tax paying women was about to move in the W/Y but in the end turned down the apartment not only because of the aggervation from all the red tape but she was somewhat deceived about the rent.To make a long story short, she decided to stay in her market rate apt. paying almost what she would have payed @ W/Y which is in the range of 800.00 dollars and some change... to me that's NOT low income, personally I wouldn't pay to live there with all those dam kids...800.00 dollars? I don't think so.
ReplyDeleteYou know,I wonder why Ald. Shiller never thought about doing a really nice MODERATE income apartment building for progressive people who WORK for a living. And after the income cap is hit, they move and someone else moves in,so on and so on.
ReplyDeleteProgressive Housing.....Everyone gets a fair shot
What I don't understand is why Alder(wo)man Schiller thinks that it's this ward's responsibility to preserve all of the "affordable" housing. Does she not understand that in order to get economic development and progress requires people with disposable income to move into the area? Does she realize that if places like this section 8 palace remain, her ghetto boom-town is going to go bust?
ReplyDeleteOne question should, ultimately, prevail: How do we stop this initiative?