Norridge corporate welfare to HIP mall
Since 2004 the Harlem Irving Plaza, owned by a reportedly uber-wealthy Chicago businessman (and good pal of former Chicago Mayor Richard Daley) received $1.8 million dollars in taxpayer-funded “rebates”, in order to recoup the cost of rebuilding the southwest side of the mall to house Target.
Mayor James Chmura will counter Norridge received many millions more in tax monies from Target during that time (a claim he has been unable to back up). However, any monies the Village received is tax money it would have received anyway, not any of the Target rent profits.
Corruption and conflict of interest?
Surely it isn’t a conflict of interest Chmura’s Norridge Improvement Party (NIP) has been giving millions of taxpayer dollars in corporate welfare to one of his biggest political campaign contributors?
A good, respectable, HONEST, corruption-free government would have said “no” to such as request.
In the real world, corporations risk their own money or that of its investors for return on investment, rather than asking taxpayers to subidize it.
Furthermore, there was no requirement Target needed to be in the Harlem Irving Plaza. It could have, for example, been built elsewhere in Norridge (for example, the Norridge Commons) without taxpayers having to pay the developer.
But of course the Norridge Commons doesn’t make campaign contributions to Chmura’s NIP coffers, so…. naah, there’s “no corruption in the Village”, right James?