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Health & Fitness

ANOTHER BAILOUT AT DODGE AND DEMPSTER? TIF SHOULD BE DENIED!

The TIF at Dodge and Dempster is another case of a public bailout of a private, for profit company.

I oppose the creation of a Tax Increment Financing ("TIF") District for the shopping center at Dempster & Dodge for the following reasons:

1. The agenda for tonights City Council Meeting proposes that the regular rules of the council be suspended for this item. The ordinance will be introduced and voted upon at this meeting without the opportunity for public comment or debate. 

2. The new owners of the shopping center knew the low occupancy of the center before they bought it. They bought it believing that they could turn it around and mke it profitable. They bought it knowing the current configuration and knew that buildouts would have to be made to make the shopping more attractive to smaller businesses. They have done this at many other properties in the area. (See http://www.bonniemgmt.com). This is another government subsidy where it is not needed. It is the Evanston tax payer subsiding the profits of a private development company.

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3. If the owner bought the property with a promise from Evanston that a TIF would be approved, that needs to be disclosed.

4. At the very least, as a condition for the TIF, the city council should require the owner to revive on other spot in Evanston: for example the eye-sore and abandoned former Red Owl / CVS at Dodge and Oakton.

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Eric Lieberman

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