Alderman Taylor offering opening welcoming statements.

Meeting was linked to be streamed on Vimeo, but it is actually being live streamed on YouTube. You can follow LIVE here

youtube.com/watch?v=bZMIYl…

You can also learn more about the city's INVEST South/West initiative here
chicago.gov/city/en/sites/…

These proposals will be for development on 47th and Justine, which is currently vacant.

These Request for Proposals (RFPs) are a way to solicit development proposals for city-owned land.

They're intended to "spar development for corridors" on the city's South & West sides

When reviewing these RFPs, these key points are what Chicago DPD is looking for and wants the community to keep in mind.

Tonight there are 3 RFPs https://t.co/V3QeDNu95b

Community synthesis, community scorecard, evaluation, and selection and negotiation are the ways in which the feedback gets incorporated into the final decision for development acceptance https://t.co/wlQPuR1pM5

1515 W 47th Street LLC proposal is up first
(Park Row Development LLC & Churchill Stateside Group team)

A video is being presented about mixed used developments to revitalize this lot.

Affordable housing, jobs, and community wealth are key points in their building

Open public space, solar panels, murals, affordable housing units, rooftop terrace, underground parking, restaurant space, & business space opportunities are presented.

$19.8 million is the assumed cost for this 15,000 sq ft space w/construction beginning in 2022.

Homeownership and financial literacy training is being presented as an opportunity to build community wealth.

50 rental units are proposed.

A public commenter notes that this team previously purchased land that promised to develop 2 years ago and they haven’t yet begun. They ask what would be different with this proposal.

The development team notes unexpected delays.

Public commenter asks about making more 2 and 3 bedroom units for residents, but developer notes lack of space resulting in the studio and 1 bedroom floor plans being the more feasible option right now

1515 W 47 st LLC project is requesting $4.4million in tiff$6.3 million in tax credits in public subsidy for this $19 million project. They’ve put up $250k of their own money so far

“Affordable housing” is capped at 60% of median income in the area.

All units can be “converted” to accessible and sensory units

Est that this will be completed by Dec 2023

380 jobs are estimated to be created with ~325 to be construction jobs

The next proposal is coming from Back of The Yard Works (consisting of Condor Development & Back of the Yards Coffee Co).

They note their proposal doesn't include housing, but will focus on entrepreneurship and encouraging home ownership

Sidenote:

One public commenter has noted that she'd love to see a library in one of these proposals. Says libraries are needed in the community more than more apartments and rental units.

Resuming with Back of The Yard Works presentation:

Reduction in carbon emissions, renewable energy, water conservation, and other sustainable building and maintenance practices will be at the center of this development.

Green space, composting will help reduce waste

A workforce development center will be created to offer training for jobs and also provide employment opportunities for those in the community.

Latinx and women owned businesses will be among the retailers and eateries occupying the space to create a “circular economy”

What is a circular economy?

“A systemic approach to economic development designed to benefit businesses, society, and the environment ... it aims to gradually decouple growth from the consumption of finite resources.”

As of right now, this developer hasn’t put anything up for the land. They want to be able to purchase it from the city for $1.

They say that it’s for the community and they don’t want to ask the community for tax dollars to buy the land. They say this will help keep rent low.

The developer is committed to making sure that the businesses in the building are in fact from the community.

They’re promise 100% occupancy by community entrepreneurs

Ald Lopez notes that 74% of this project will be funded publicly.

The remaining 26% is in question. There are currently no letters intent to invest but the team says they anticipate those coming in once approved for this project.

Ald Lopez notes that housing was a specific request as part of the RFP process and asks why they specifically chose to not include housing in their proposal

Moderator Seledon blocks the answering of this question noting time restraints

Moderator Seledon does allow Ald Taylor to ask a question as to why Black businesses are left out of these incubator opportunities.

Moderator Seledon doesn’t allow for answer, but allows the developer to give closing remarks on their RFP.

Next up (and last presenter) is United Yards (New City Redevelopment Limited Partnership- Celadon Partners & Blackwood Group) with their RFP

While United Yards has technical difficulties, DPD announced that all asked questions that went/go unanswered during the meeting will be followed up with on an FAQ page later.

In their presentation video, they speak with their experience in creating affordable housing for communities and celebrating the history of communities

50 units of housing and a community center space are highlighted

A community member comments that this developer currently has a contract for the Rainbow building nearby. Commenter calls it an eyesore and says they haven’t restored it.

Developer notes they don’t officially own it yet but once they do they will restore it

Another commenter notes that a lot of focus is put on business owners.

They would like emphasis on the intergenerational interaction, mothers, and the youth in these development projects as well.

The developers note that mixed bedroom units will be available.

The community center will engage the youth in tech opportunities (more to come).

They’re asking for ~$6million in TIFF. Plan to secure funding through tax credits while putting in ~$5 million of their own capital

DPD is closing by reminding that unanswered questions will be acknowledged in an FAQ

Here are the next steps in the process: https://t.co/3sZevp0nDx

Additional announcements https://t.co/JLsSzgkxoW

Maurice Cox adds that this process is meant to provide opportunity and options to the South and West sides.

Meeting ended at 8:09 pm