The Connected Make Out
- The city's decision to purchase for $1.2 million a riverfront parcel in Bridgeport that a connected developer bought six years earlier for $50,000 was "not a sweetheart deal," Mayor Daley said Thursday.
The Chicago Tribune reported this week that Bridgeport developer Thomas DiPiazza and a partner bought the 1.8-acre parcel for $50,000 in 1998, only to sell it to the city for $1.2 million six years later.
DiPiazza is a lifelong friend and business partner of Tim Degnan, the mayor's former political enforcer.
On Thursday, the mayor also sloughed off the controversy surrounding the latest city land deal involving his nephew, Robert Vanecko.
The Sun-Times reported this week that City Hall has agreed to give as much as $5 million to a business that lists Vanecko as one of its principals. The company plans to build a $22.6 million residential tower on the Near North Side for low-income senior citizens.
Referring to his nephew, Daley said, "He has nothing to do with [that project.] He's a consultant. That's all. You know that. [It's] just a little jammeroo" by the Sun-Times designed to needle Daley.