Great Idea Conehead!
Mayor Brandon Johnson on Wednesday checked a major item off his progressive to-do list: groundbreaking power to build affordable housing without federal help.
By a 30-18 vote, the City Council approved Johnson’s “green social housing” plan to create a city-owned, nonprofit developer that would issue $135 million in loans to developers who build affordable housing and sell their environmentally-friendly buildings back to the city.
Finance Committee Chair Pat Dowell (3rd) has been dead-set against mayor’s plan because the financing structure —70% of the units would be market rate and 30% would be affordable — means that the new housing would be built in “affluent” neighborhoods — virtually bypassing, for at least a decade, “marginalized” African American communities that need the most help.
Just to make sure we understand:
- Chicago - which is broke;
- will grant loans totaling $135 million to a non-profit developer;
- a non-profit which pretty much has no obligation or intention of making actual money nor preventing expensive cost overruns;
- will build "green" boondoggle housing....to sell back to the city?
The reason we didn't think of this becomes obvious - we're not thieves or morons.
Labels: money questions
posted by SCC at 12:02 AM
50 Comments:
Just another tax payer funded coffer for the crooked & connected to raid, much like TIF. That’s all it is.
I've heard this "affordable housing" mantra for over 40 years now. Its unbelieveable people still believe if they build more housing it will be more affordable. Throw on top of that this crooked idea...smh
Nuts.
What has he promised or accomplished for anyone white while in office except trying to get money from them.
LMAO What a ghetto city Chicago has become. Let's build more taxpayer-subsidized housing for people who contribute nothing to society with money we don't have. The new appliances in these units will be ripped out and sold on the street within 3 months for some dope and a full-auto Glock. {Honk Honk} Clown World!
Want to keep it really green? Build huts...
Money laundering at its finest! Chicago has perfected it!
Another losing program which will benefit nobody except the players at the top
If they have money for this nonsense then they have money to settle the lawsuit pertaining to our overtime . Fuck you , pay me!
Its a trap. There are no provisions for energy assistance. This is not like a section 8 voucher asset which has provisions to allow this asset to be passed down for generation after generation. There is no at little cost or no cost guarantee that that costs of this rental unit may increase due to higher property taxes, water and sewer fee increases, increases in adjustable rate mortgages, inflation, etc. Ultimately, there must be a locked in pricing and higher costs must be borne by city budget allocations from taxpaying residents of the city in absence of federal block grants. There must be a guarantee absentee ballots must be delivered to each residence in a SEIU or CTU campaign to get the vote out during each election cycle to get the right democrat Santa Claus into office.
Oh yes kickbacks and money laundering at its finest. Oh wait let's not forget the open public bid for the work to be performed.
Conehead is a true Robinhood. BJ Johnson is taking from the working middle class and re-distributing your wealth to the ain't getting no job "poor" and newly arrived soon to vote illegal aliens. And the den of 50 thieves aldercreatures are co-conspirators to this Marxist scheme. Its your money middle class 9 to 5 ers which is taken by government permanently depriving those good people their own sweat earned equity to spend on their family. But elected rats have a better idea for your paycheck.
Government officials are just so damn compassionate with other people's money toying around with municipal bankruptcy for the city which ultimately will slash and devalue the value of your homes and businesses. The solution is more taxes and fees to fund these entitlement schemes.
When did government get into the housing and rental business? Why? When is it the priority of government to cultivate a permanent voting underclass?
Corruption is going to run rampant with this deal.
This is just about as bad as city owned grocery stores.
What the honest fuck is a "non-profit" developer? They work for free or something, do it as a hobby?
if this is such a wonderful idea they should build it in the middle of the so-called marginalized neighborhood, rather than putting a giant turd in the middle of some place nice.
but I guess that's what Chicago did with the projects by stirring the shit around the city and wrecking the whole place is supposed to keeping it all contained in one area, so why not continue the boondoggle?
given the lousy credit rating of the Shitty I wonder what the interest rate on those loans is going to be...
It's another magic show. They (BJ and the 40 thieves) are going to make 135 million dollars disappear.
Chicago values since 1837
They can use the same builders that are building Barack's library.
Not one structure will be built! Not one! The loan will vanish and the news media won’t say a word about it.
And now he's gonna start taxing the "ultra rich". Then the ultra rich move with all of their money and he taxes the medium rich. Do the progressives ever listen to anyone smarter than they think they are.
why not just pay the builder to build the city a house? we have to front them the loan first?
The liberal democrat plan has stayed the same for a long time, that is to build multiple family buildings in all areas of the city and suburbs to include those zoned only for single family houses. They want to change the zoning laws. Affordable housing means subsidized apartments.
It became the priority when government granted them the vote. As the Republic was originally set up, only White male landholders had the vote.
Nothing. Blacks get power and take care of blacks. Hispanics get power and take care of Hispanics. Women get power and push women’s issues. Only white males have to be “diverse.”
It's Green! It's Social! It's Housing! Someone has a buzzword mixer and this is what sh!t out. It will be a dump.
Important truthful read:
https://www.thefp.com/p/chicago-police-suicides?utm_source=substack&utm_medium=email&fbclid=IwY2xjawKJo3hleHRuA2FlbQIxMQBicmlkETBOSW1sbTFWZnBBMERMQnFiAR6Vj3ED9ZxpKfG6apFkXyydD7_ao08-gVOG2ABq3T0nYuCmJp-xVdHRBu8CeQ_aem_wWVX0TDFQpwf66Ybd2Ry-Q
I guess the city isn't in debt enough. Actually more as copper ire, lumber etc will surely be stolen. "My kind of town"--Conehead. Updated version I guess.
I live in a 100 year old apartment . It’s not massively updated, but it’s cared for and not abused. I recall one of the townhome sections of CHA in 012 that at barely 15 years old had to be emptied and remodeled bc they were just destroyed- holes in walls, appliances destroyed, water damage from people not using plumbing with care, filth etc. You can build all the affordable housing you want, it’s throwing good money after bad until you start holding people responsible for living like animals, it’s pointless.
Exactly. If there was any payout in doing anything for the working class taxpayers, Aldercreatures and their cronies would have figured it out. The problem is that there’s simply more money for politicians and connected friends, family, developers etc and with far less oversight under the guise of helping the “disadvantaged.” This is what the liberal party has strived for since welfare was put in place and it just gets worse every year. It’s not about uplifting the disadvantaged. It’s about generational government control of the populace.
Call Habitat for Humanity.
It’s a dead giveaway whenever you see “non-profit” and city in the same sentence.
Dealing with liberal ideology is like dealing with someone with dementia. You cannot employ logic at all. I’m all for helping people. This isn’t anything to do with that. It’s about about keeping this part of the population stagnate and dragging the other levels downward (except the uber rich who ALWAYS have options).
https://wirepoints.org/theyve-destroyed-jobs-and-opportunity-for-black-chicagoans-wirepoints/
wonder when the demoRAT politicians will try to make housing affordable for the legal, law-abiding, taxpaying citizens
At least they are up front about it They are telling us we are going to scam you and theres nothing you can do about it.
If you listened to the town hall that was on Ch9 Wed night he said that houses are selling too high and he wants to bring the prices down to make them affordable for the underprivileged. In other words he wants to chase the working class out so his people can move in and destroy the rest of the city.
Amen!!!
Money for this, but paramedics and firefighters going on 4 years without a contract. Where's the money for more ambulances so grandma don't die while medics are on ghetto non emergency bullsh1t?
Prevost, 69, was born in Chicago on September 14, 1955. His father Louis Marius Prevost, a school administrator and World War II naval veteran, was of French and Italian descent; the family of his mother, Mildred Martinez, originally hailed from Spain. In addition to English, the new pope speaks Spanish, Italian, French, and Portuguese; he can read Latin and German.
Pope Leo first order of business: perform Exorcism ion both conehead n gov fat-ss
And "Green" So, it's sure to lose tens of millions. Mayor Daley had a knack for losing hundreds of millions. Remember the airport? That went into the billions and not a thing was changed or improved.
More free housing and what not for the lazy and useless
He's looking to appoint John Roberson, his Chief Operating Officer at the head of CTA.
He's also looking to appoint his Chief of Staff Christina Pacione-Zayas to head CPS.
Because destroying their neighborhood isn't good enough, the Democratic Party has to help them move into YOUR neighborhoods that YOU take care of. Organized and intentional destruction of the Middle class passed by law, unfuckingreal. Can't wait to leave this shithole.
Edison Park will get 3 of these all for the City to park West side connected into as well as 3 in Norwood Park Circle again these will go to connected to County connected relatives.
Upside look for improved streets & CPD security details.
Downside?
They also do presidential library new construct. Just don't mind the concrete chunks flaking off nor the shimmed out of safe tolerance elevator guide rails. They will just run'em slower & less weight.
I thought habitat was a charity?
We’re all waiting for Pam Bondi to arrive and clean up the shit at city hall.
Wouldn't this idea make city owned buildings become Public Housing, which were destroyed years ago on State St and other locations in the city?
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