Should the Village Assist in Funding Mandel's Apartment Development?
Residents raised concerns and questions with the village's plan to contribute $4.9 million to the development by creating a TIF district. Negotiations continue between the village and The Mandel Group.
Should the village assist in funding The Mandel Group's 100-unit luxury apartment development near Silver Spring Drive? This was the question posed to residents at a public hearing of the Community Development Authority Thursday night. The village estimates it will contribute $4.9 million through a tax incremental finance (TIF) district to The Mandel Group's $27-million, three-building development containing 100 high-end apartments in the parking lots north of Silver Spring Drive, between Santa Monica and Consaul Place. At the hearing attended by less than 10 residents, resident Robert Crawford said he likes the project, but he questioned the use of public TIF funds for it. "I think good, old-fashioned capitalism will see that this project…
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Absolutelyfabulous
12:47 pm on Wednesday, September 12, 2012
It won't get shot down. Why can't certain people put 2 & 2 together? Only 10 residents showed up at the Village Board/CDA meeting. This blog means nothing. This development mirrors what happened in Shorewood. Though, no matter how many times they were asked what the valuation of Mandel's Shorewood luxury apartment would be upon completion, the only information forthcoming was that in the year … more ›