Chicago City Council Approves Development Deals for Lincoln Yards, ‘The 78’
BY NANCY LOO AND CHARLES HAYES
WGN
01:21PM, APRIL 10, 2019
CHICAGO — The controversial Lincoln Yards project won the approval of the full City Council on Wednesday. "The 78," which will fill the empty stretch between the South Loop and Chinatown, also received the go ahead.
Earlier in the day, the Finance Committee approved a total of up to $2 billion in tax-increment financing for both projects.
The vote was previously scheduled for Monday but Mayor Rahm Emanuel delayed it at Mayor-elect Lori Lightfoot's request. She wanted to get a closer look at the deal.
In a statement on Tuesday, Lightfoot announced her support for the projects after the developers agreed to increase the amount of construction work for minority and women-owned firms.
“There remains much more work to do in this regard, and I am hopeful we’ll be able to get there," Lightfoot's statement reads, in part. "Under the terms of both redevelopment agreements, we have confirmed that the City has additional controls over these projects, which I am confident will allow for us to further improve these deals and to bring community voices into the process going forward."
Demonstrators filled two floors of City Hall on Wednesday to protest the vote. Several activists said they are disappointed in Lightfoot. Protestors also blocked off part of LaSalle for a short time outside City Hall.
WGN
01:21PM, APRIL 10, 2019
CHICAGO — The controversial Lincoln Yards project won the approval of the full City Council on Wednesday. "The 78," which will fill the empty stretch between the South Loop and Chinatown, also received the go ahead.
Earlier in the day, the Finance Committee approved a total of up to $2 billion in tax-increment financing for both projects.
The vote was previously scheduled for Monday but Mayor Rahm Emanuel delayed it at Mayor-elect Lori Lightfoot's request. She wanted to get a closer look at the deal.
In a statement on Tuesday, Lightfoot announced her support for the projects after the developers agreed to increase the amount of construction work for minority and women-owned firms.
“There remains much more work to do in this regard, and I am hopeful we’ll be able to get there," Lightfoot's statement reads, in part. "Under the terms of both redevelopment agreements, we have confirmed that the City has additional controls over these projects, which I am confident will allow for us to further improve these deals and to bring community voices into the process going forward."
Demonstrators filled two floors of City Hall on Wednesday to protest the vote. Several activists said they are disappointed in Lightfoot. Protestors also blocked off part of LaSalle for a short time outside City Hall.
No comments:
Post a Comment