July 18, 2008

THANK YOU, Berny Stone!

We'd like to take this opportunity to sincerely thank Alderman Berny Stone (50th) for his contribution to getting the new community center in Gale Park built, if not opened.

Last month, Our City Council including Stone approved a diverse package of subsidies to the Park District to construct a field house in Gale Park on Howard Street in the grossly under-served North of Howard community.

AUTHORIZATION FOR THE EXECUTION OF INTERGOVERNMENTAL AGREEMENT WITH CHICAGO PARK DISTRICT AND TRANSFER OF FUNDS FROM HOWARD/PAULINA TAX INCREMENT FINANCING DISTRICT FOR CONSTRUCTION OF GALE SCHOOL PARK

(See page 31 in the PDF, Journal page 28949)

One highly unusual aspect of this deal is the timing, coming as it does after the building was completed, and the contractor Paschen (also the GC of the Howard El station) had been paid and moved on.

Another highly unusual aspect is reflected in the meager details of the sources of funds, which includes a generous contribution by Alderman Stone of $1.4M! Stone contributed more than Moore! Stone contributed more than the Park District!
Funding Sources

Seabury Foundation Donation $500,000
Alderman Moore Menu $1,082,000
Alderman Stone Menu $1,400,000

Howard-Paulina Tax Increment Financing District $800,000
City of Chicago $1,800,000
State Funds (Representative Julie Hamos) $200,000
State Funds (former State Senator Carol Ronan) $500,000
Chicago Park District $1,343,621

Total $7,625,621
(See page 51 in the PDF, Journal page 28969).

To further put the magnanimity of this $1.4M grant into perspective, recall that the total annual allotment of so-called "aldermanic menu" money is $1.32M per alderman per year lately. Stone sacrificed more than a year's worth of pothole filling, street-light installations, and sewer repairs in the 50th ward to better the lives of those North of Howard. After years of tossing menu dollars around like manhole covers, Stone lets lose the flood gates - in the 49th Ward!

Thank you, Berny Stone!

Please let's not forget to invite Berny to the grand opening festivities. Whenever that is.

2 comments:

Toni said...

Interesting. Tim Mitchell referred to the cost as $10M at the monthly meeting on July 9. He mentioned it several times as $10M.

Now my dad always rounded numbers, but there's a few bucks unaccounted for or else there's something we don't see on paper.

Hugh said...

the building cost the Park District $1.3M

turning $1.3M into $10M is not rounding up, it's spin