Tuesday, April 9, 2019

Lincoln Yards and The 78 TIF Vote Delayed Due to Mayor-Elects Request

An interesting political showdown is brewing for the 78 (via Chicago Tribune):
Lori Lightfoot flexed her new mayoral muscles Monday, getting her soon-to-be predecessor Rahm Emanuel and aldermen to hold off voting on $2 billion in controversial property tax subsidies for a pair of massive developments until she gets a closer look at the deals.

It remains to be seen whether Lightfoot forces substantive changes to the tax increment financing proposals for Lincoln Yards near Lincoln Park and The 78 in the South Loop. Emanuel’s floor leader and the chairman of the Finance Committee, Ald. Patrick O’Connor, said he hoped to hold a vote on the proposals Wednesday morning before the full City Council meeting.
This likely won't be resolved this week, but should be interesting to see how it all plays out.

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