LaSalle Street in Chicago has long been an important business and financial hub for the city.
But if Mayor Brandon Johnson has his way, the area will be transformed into “affordable housing,” with some suggesting it is yet another scheme to place the interests of illegals ahead of citizens.
Blockclub Chicago reported that “four potential developments have been picked as part of the LaSalle Street Reimagined initiative, a plan that aims to help the corridor bounce back from pandemic vacancies,” which would add “more than 1,000 new apartments, with at least 319 of them affordable.”
On Friday, the City Council will vote on Johnson’s request for $1.25B for affordable housing borrowing.
This is on top of Johnson’s request for $70 million in additional City funding to care for illegals, which the Budget and Government Operations Committee voted 20-8 to send to the full Council.
The Real Deal spelled out Johnson’s plan:
The plan calls for $1.25 billion in bonds to be allocated over five years, with $250 million annually divided between the city’s Department of Planning and Development and the Department of Housing, for economic development and housing programs.
It would also allow numerous TIF districts to expire, and for the tax dollars recouped from those districts to be redirected to fund this initiative. This shift signifies a departure from Chicago’s traditional reliance on TIF funds for its developments, removing geographic barriers to how the money is spent.
Chicago reporter William B. Kelly, however, has questions.
Kelly shared on X, “Will Chicago Mayor Brandon Johnson get $1.25B to turn LaSalle Street into migrant housing? I know many of you are furious with Chicago Mayor Johnson and I don’t blame you. If you are angry and frustrated, understand this. The #Chicago City Council plans to vote on his $1.25B affordable housing borrowing plan this Friday. This is in addition to the $70M request he has made for #migrant housing and care. This $1.25B money grab is what he really wants – and he wants to use that money to turn Chicago’s LaSalle Street into taxpayer-funded apartments for migrants. His Brighton Park tent city failed and his Bring Chicago Home Referendum failed. He can’t afford this to fail too. So, don’t get distracted by things that won’t work. As a resident, as a voter and as a citizen, you have more power than you know. Please like, comment, and share this report widely. If this troubles you, voice your opposition and contact your alderman.”
Watch as Kelly exposes Johnson’s scheme:
Will Mayor Brandon Johnson get $1.25B to turn LaSalle Street into migrant housing? I know many of you are furious with Chicago Mayor Johnson and I don’t blame you. If you are angry and frustrated, understand this. The #Chicago City Council plans to vote on his $1.25B affordable… pic.twitter.com/Qcv5F6SPQh
— Reporter William J. Kelly #thatreporter (@Williamjkelly) April 18, 2024
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