BLOCK CITY CHICAGO REPORTS on Commercial Corridor Revitalization

BLOCK CITY CHICAGO REPORTS

HYDE PARK, WOODLAWN, SOUTH SHORE

Some Landlords Keep Their Storefronts Empty For Years — And Get Tax Breaks For It. Business Leaders Want To Change That

Small business advocates want to limit the tax breaks property owners can get on vacant storefronts. On 79th Street, three in five storefronts were vacant as of last year.

7:36 AM CDT on Oct 4, 2021

Quotes:

“We’re sounding the alarm on some of these land-bankers and foreign investors that are taking advantage of marginalized communities,” Tonya Trice of the South Shore Chamber of Commerce said.
“We have been doing this already without funding for a couple years,” said Diane Burnham, executive director of the South East Chicago Commission. “Having a coalition and a united voice has kept us going.”
“We believe this [ordinance] should be passed as expeditiously as possible,” council co-founder Elliot Richardson said. “It’s crucial to revitalize commercial corridors now — especially coming out of this pandemic — to create jobs in struggling communities.

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