Originally published May 15, 2016
No TIF For the Rich!
121 N. LaSalle Street, 2nd floor
(by the elevators)
The list of big money tax give-aways to the wealthy is practically endless:
** $16 million proposed for luxury hi-rises on prime lake-front property in Uptown (the “Maryville TIF”);
** $1.2 billion in borrowing to build the proposed Lucas / Star Wars museum of 20th Century American kitsch;
** $29.5 million for a luxury hi-rise on prime downtown Chicago River-front property;
** $55 million for the DePaul basketball arena
** $5.2 million in part for Penny Pritzker’s Hyatt hotel chain in Hyde Park
** $15 million for the Chicago Board of Trade
…and the list goes on…
Meanwhile, Mayor Emanuel’s Chicago Housing Authority helps DESTROY low income housing:
** By refusing to rehab its current stock of affordable housing, such as at the Lathrop Homes;
** By refusing to abide by its promise of replacing each unit of affordable housing it closes down, such as at the Robert Taylor Homes on the south side, ABLA on the west side, and Cabrini Green on the north side
** By allowing literally hundreds of thousands of people to languish on their waitlist for years waiting for affordable housing
… all while sitting on $440 MILLION in its bank account!
Next Wednesday, aldermen in the City Council are expected to introduce an ordinance that will permit Maryville TIF (tax increment financing) money to go towards luxury high-rises in Uptown.
For too long our tax dollars have been going to wealthy developers to create luxury high-rises and condos. Instead of investing in our community, these projects are pushing low-income, black and brown families out of our communities.
Join us at 10:45 AM, Wednesday, May 18
City Hall, 121 N. LaSalle Street, 2nd floor
(by the elevators)
If you can come earlier, please also attend the City Council meeting, also on the 2nd floor (meeting starts at 10 am, but come much earlier to ensure you get a seat!)