Ordinance Creating Process To Revoke Property Tax Incentives From ‘Bad Actors’ Set To Advance – Block Club Chicago

Both the ordinance and resolution were born in the aftermath of Hilco Redevelopment Partners’ demolition of a smokestack in April that went awry and blanketed the surrounding residential area in dust. The city fined Hilco $68,000 for the incident, but elected officials and local activists called for the city to strip Hilco of the nearly $20 million in property tax credits it was granted to redevelop the property.
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nixit
5 years ago

Once the property tax incentive is removed, won’t most developers walk away? Then what? The city already fined Hilco $68,000 for the incident. If there was more damage, then increase the fine.

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