A report from Fix Wilson Yard meeting

I went to a community meeting tonight. Fidel arranged for his condo building and those in neighboring buildings to gather and hear a presentation and information from the Group "Fix-Wilson-Yard." It was a discussion on efforts to halt the project as it is currently being proposed on the ground of the miss-use of TIF (Tax Incremental Financing) and a failure to follow the appropriate guidelines. There was a wealth of information. I collected a few pieces of the materials provided and business cards that can be circulated.

Key is that this project is now two - 9 story buildings of all low, very low and extreme low income. No one living in the 178 units can exceed certain income levels. A requirement that a family of four cannot make more than $36,000 gross income in order to qualify. Also because this is a private development, the normal screening process of U.S. Housing and Urban Development (HUD) and the Chicago Housing Authority Regulations do not apply - this means there is no mandatory drug screening, criminal background checks or compliance with sexual predator laws. In all HUD and Chicago Housing Authority, there is required screenings, specifically on being drug free. These regulations will not apply. In addition, if you believe what was communicated, Peter Holsten - the single and only developer, has pledged that priority housing will go to those still on the waitlist for housing from those projects torn down at Cabrini Green. This means that people currently living in Uptown would not be eligible for this new construction low income housing, but all 178 units would be available for those persons still waiting for housing who were previously displaced.

If I am recalling the number correctly, Uptown currently has 39% of the population living at or below the poverty line. Uptown currently has 24.9% low income housing. Because, this is a private development using tax dollars through TIF but not Housing Authority or HUD funds, HUD and Housing Authority regulations that preclude any ward from developing more low income housing when the percentage is at 20% does not apply. HUD and Chicago Housing Authority caps new low income housing in neighborhoods so that the numbers of available low income housing does not exceed 20% in any one area. Uptown currently as 24.9% low income, and thus the city and HUD would be precluded by its own regulations from adding additional housing. But since we tax payers are financing this through a private developer, we get another 178 units of low income housing.

The group is wanting volunteers, donations and seeking to heighten awareness. Tony Akers, our neighbor in the 800 Block of Lawrence has asked that we along with his condo building notify our neighbors and select dated for our block clubs to host a similar meeting. The group politely avoided politics and political baiting, and focused the Wilson Yard project.
I
t was interesting to note that the project once at 6 developers and now it only as one, who specializes in building low income housing. The developer bought the 6 acres as Wilson Yards for $40 a square foot when the fair market value was quoted at $100 a sq ft. The developer is alleging that for the two types of units that will be built in the project. One unit has construction costs of $337,000 per unit in Building 2 and $447,000 per unit in Building 1. Obviously, my limited experience in development tells me that he has inflated construction costs, padded his budget with fees and development costs to reach this number.

We will be shouldering $52 million is tax-payer funded TIF. This project is said to cost $168 million dollars of which $52 millions of tax payer money - intended for encourage economic development, will be paid by us.

I have the handouts provided, if you would like a copy. I would also appreciate if you could spread the news to others including the Gunnison Block Club members.

I am waiting to hear from Tony, what date or dates would be viable to have the group make their presentations to interested parties. I would like to volunteer our backyard, Phoenix Condo Association, for the gathering, unless we can find a more suitable location with indoor seating. There were roughly 25 people in attendance tonight at the meeting in Sheridan Park - Uptown. The group in 2 months has raised in excess of $40,000 and has retained two law firms who specialize in TIF and Taxpayer lawsuits against the city.

Sincerely,
William

From: William [mailto:wm_boulware@yahoo.com]
Sent: Wednesday, September 17, 2008 12:27 AM
Subject: Information of Wilson Yards