Tuesday, April 11, 2006 7:00 PM
What happened here?
Request to amend the affordable housing set aside commitment for 1444-48 West Morse Avenue. Robert Coe, the developer of 1444-48 W. Morse (northeast corner of Morse and Greenview), is asking for permission to make a monetary contribution to the Chicago Low Income Housing Trust Fund in lieu of creating one affordable condominium unit in his development under the Chicago Partnership for Affordable Neighborhoods (CPAN) program. The money contributed to the Low Income Housing Trust Fund would be used to provide affordable rental housing in the 49 th Ward.
Blognotes: This guy Mr. Coe is a work of art. Where was the big announcement for this back-stepping. Did you tell Fran Tobin about this? The "Low Income Housing Trust Fund?" Please, give me a break. Just call it a campaign contribution Mr. Coe.
Update: Oh, thank goodness for the blog, we would have missed this one.
March 2005
1.) Would the developer ( Mr. Coe) 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. It's B3-5 or nothing. Alderman Moore didn't say a word, knowing deep down, he will accept the blackmail routine.
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.
More on Mr. Coe here, here, here, here, here, here, and here.
2 comments:
> Very much like BLACKMAIL works.
Coe is blackmailing our neighborhood. He is quick to tear down, slow to build. The blackmail is:
"Hey, Rogers Park, how do you like the vacant lot in the middle of the neighborhood?
Nice hole in the ground, huh?
Anybody wanna see how long I can keep it that way?"
What a sleazeball. We shoulda made him finish the Pinewood before he torn anything else down.
> Very much like BLACKMAIL works.
Coe could not be more blantantly blackmailing us unless he threatened to blow up the neighborhood.
Oh, wait, he DID!
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