Two years ago, Uptowners cast a near-unanimous vote against directing $50M in tax increment financing (TIF) to a 900-unit tower redevelopment of the old Maryville Academy site at Montrose & Clarendon. That opposition contributed to the derailing of Sedgwick Properties' bid and the arrival of JDL Development as champion of a downsized plan. The Reader's Ben Joravsky details the project's evolving TIF demands (now $14M) and questions why Chicagoans should support any handout for private residential development (with no public component) in a not-destitute district. [Reader, previously]
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