* DevCorp North Not Wanted on Morse Avenue-Part One

The First Three Questions

Last night, fifty residents had to wait for Alderman Moore to show up again, shocking as it is, he was running late.

Alderman Moore's flier insisted it was a community meeting, but when he spoke... it turned out he meant it was "his meeting". The flier was wrong... again.

Here are yesterday's first three questions, with partial answers given. Partial meaning, our Alderman was running late because he just returned from Washington and wanted to use some fillibuster routine he must have learned from stepmother Jan?

When we finally got around to getting some answers... it was nearly 8:15pm. This won't take as long.

1.) Would the developer invest in this property if he couldn't get a zoning change? They already got a great deal on this property, It is currently zoned B 3-3. They should make a great profit on this property, as it is currently zoned.

The answer was yes, but he wouldn't build the CPAN unit. This affordable condo is only available if he gets his way with the Alderman. Very much like BLACKMAIL works. Over and over he repeated this. The Alderman didn't say a word, knowing deep down, he will accept the blackmailing.

The owner could legally build 15 smaller condos right now with it's current B3-3 zoning, he could sell 13, set two aside for affordable housing instead of one and make money, but he doesn't want to. It's B3-5 zoning or no CPAN condo.

2.) "Commercial" Real Estate means just that. With DevCorp North owning the property, no sales tax revenue is generated, they don't sell anything. No real estate tax is generated from not-for profit owned properties. No Special Service Area Tax is generated from a not-for-profit property owner. They are marked exempt. In fact they already take 50% of the Special Service area tax money collected for their administration fees to pay managers salaries, fringe benefits and fees.

The answer is: Mr. Coe said he "can and will sell to DevCorp North", he said "DevCorp North approached them with the deal", he didn't give a price on what they paid or the agreement, he only mentioned the price per square foot, in terms of now and later costs. Mr. Coe is so cocky on this matter, the blue print drawings already have Kimberly Bares office spot picked out and designed.

3.) How much will DevCorp North pay for this commercial unit they plan to take over? Was this deal a fair market value buy? Were any other buyers who actually could generate sales by selling a product, a buyer who could generate real estate and special service area taxes, offered this property? A business that actually would give the street, foot traffic commerce ?

The answer is: Using his middle figures given I caculated, DevCorp North were to buy it, it should cost them around $625,000 dollars for the commerical property. That's 2500 square feet valued at $250 a square foot. That's what my caculater says, either way they price it, the neighbors overwhelmingly said they do not want a social service agency in this future location. They want actual commerce.

Part One Footnotes: Alderman Moore is firmly covering up the corruption at DevCorp North, I broke this story up into parts because of this issue. His office is clearly behind this land-grapping.

Alderman Moore's Zoning/DevCorp North Board committee members Kevin O'Neil, Katy Hogan, Rich Aronson, David Fagus, Rene Carmego, did I miss anyone(?) came out in force supporting this DevCorp North property take-over.

Hi-jacking the community meeting on a single development zoning issue with talk of hypothetical affordable housing and streetscape money from Washington drew out his puppet show applause team. The other 40 community members in attendance didn't see it that way.

Alderman Moore clearly knows Kimbery Bares at DevCorp North is violating IRS rules by not claiming the Gateway Mall as an asset on IRS documents.

He clearly isn't interested in any whistleblower warning from "his people." More to come.