Quote Originally Posted by Eber Brock Ward View Post
Yeah, you've beaten this drum and I've posted examples from every major city showing that major projects are subsidized EVERYWHERE.
Can you post us these examples? Because I don't know what you're talking about. I can't recall subsidies being used in Ann Arbor, Birmingham, Royal Oak, or other regional cities.

Can you cite a single example of a subsidized restaurant anywhere else in Metro Detroit? How about a subsidized grocery store, or subsidized hotel? Subsidized "luxury lofts"?
Quote Originally Posted by Eber Brock Ward View Post
At this point, having done a number of these deals in Chicago, it's not a question of whether the deal will be subsidized, but how much.
You're seriously claiming that restaurants opening in downtown Chicago receive subsidies? I find that hard to believe. Same goes for all new apartments, groceries, hotels, etc.?

It may be that certain major projects receive subsidies, because Chicago isn't really a super-profitable market for many uses. Chicago is strong market within the Midwest but is very weak compared to the coastal cities. Chicago has extensive overbuilding in many sectors and generally poor market fundamentals.

Chicago has [[compared to the major U.S. gateway cities) low hotel rates, weak office demand, and high residential vacancies. They also use heavy TIF [[Tax Increment Subsidies) on major redevelopments, which are illegal in most states. Yes, many of their major downtown projects wouldn't happen absent TIF monies.

But there's no way in hell the local Chicago yuppie-zone grocery store receives tax subsidies to open. There's no way a restaurant opens with tax subsidies.