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Housing Coalition Criticizes Giveaway to Private Developers

Titus Kerby, Lathrop resident and leader, addresses the press.

Liz Brake, Jane Addams Senior Caucus leader

“Mostly federal money, state money, city money. At Oakwood Shores, the developer has $100 in equity and a $345,000 mortgage loan. The rest is public money,” said Brake.  Liz Brake crunched numbers for the Jane Adams Senior Caucus and asserts the CHA’s public private partnership is basically privateprofit on public money.

Brake says after 30 years of affordable rents, new CHA developments will revert to private control for the following 69 years, a plan the Chicago Housing Initiative likens to the city’s parking meter deal.

The Initiative seeks leasing of now vacant apartments to ease the backlog of 60,000 families seeking CHA housing plus an end to CHA privatization plans.

Keywords: Chicago Housing Authority, Chicago Housing Initiative, Jane Addams Senior Caucus, Lathrop, Lathrop Homes, Lathrop Leadership Team, Liz Brake, Plan for Transformation, Public housing, Titus Kerby

Posted in Noticias