From Uptown Coalition for Responsible Development (UCRD):
"To be discussed:
- History of the community's involvement in Sedgwick's planning
- $31 Million in public TIF funds requested by Sedgwick, a developer currently in foreclosure for their 2 most recent developments in the South Loop
- Sedgwick's financing for this project, what is at risk for the neighborhood
- Sedgwick's track record and their renewed plan
- What's next in the process and how to get involved
We have a number of documents from the public record regarding Sedgwick and the TIF process and will continue to post information as we get it on our site: www.uptownresponsibledevelopment.tumblr.com. You can also check our Facebook page for links to this information."
From a CPNA block club member:
"Sedgwick has come up with a new proposal. They submitted it to the City in August, but only gave us the first bits of information we have been requesting yesterday afternoon, and they intend to ask for City approval in January.
No public meetings have been held on this project where the community had a chance to voice concerns or ask questions or request revisions. This proposal is now scheduled to be considered at a meeting of Alderman Cappleman's 46th Ward Zoning & Development committee next week. In between the public meeting held in June and now, it was reported that Sedgwick's last two projects are being foreclosed on to the tune of $105 million. In their latest proposal they are asking for $31 million in TIF subsidies paid for by your taxes.
We know that everyone is very busy this time of year with careers, family, obligations, and holiday events, but it is so crucial for us to have a large turnout at this meeting tomorrow night. We will ask you to give your opinion on whether a developer who is being foreclosed on, and will not divulge much of the information sought (let alone give the community time to review it) should be given $31 million in TIF funds. Once they have the money, no one can control where the money goes or how it is spent."
Check out the latest proposal from Sedgwick here.