Sep 6, 2013 2
With nearly $100 million in TIF funds being spent on the first phase of a massive development on the south lakefront, a community summit on Saturday will discuss strategies to win a community benefits agreement for the project.
The Coalition for a Lakeside CBA meets Saturday, September 7, from 9 a.m. to 2 p.m. at Our Lady of Guadalupe Church, 3200 E. 91st.
Jennifer Epps-Addison of the Partnership for Working Families will discuss how community benefits agreements (CBAs) across the country have won opportunities for local workers and communities, and Tom Tresser of CivicLab will present an analysis of all TIFs in three local wards.
The Coalition will also release results of a new survey of Southeast Side residents.
Site developer McCaffrey Interests has been granted $96 million in TIF support from the city for the first phase of a vast new redevelopment of the former site of US Steel’s South Works (USX) plant, dubbed Chicago Lakeside. Ultimately McCaffrey plans over 13,000 units of housing, 17.5 million square feet of retail, 125 acres of parks and a 1,500-slip marina.
The TIF subsidy will cover one-fourth of development costs for the first phase of the project, which will include 1 million square feet of retail and restaurants and 848 units of housing. The first phase is planned for the northwest corner of the 530-acre site, which runs south from 79th Street along the lakefront to the Calumet River.
Concerns about displacement
A major concern is that development could cause displacement in the adjoining area, as it has in other communities, with property tax increases as home values rise forcing longtime residents to leave, said Amelia NietoGomez of the Alliance of the South East, an organizer of the coalition.