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Preckwinkle wants Rahm's share-the-wealth fund to offer grants, not rebate

from Chicago Sun Times

Nearly three years ago, the City Council signed off on Mayor Rahm Emanuel’s plan to generate a pot of money to rebuild struggling neighborhoods at the expense of downtown developers. Despite concerns it would create a mayoral “slush fund” akin to tax-increment financing, aldermen agreed to let developers in a broader downtown area build bigger and taller projects so long as they agree to share the wealth with long-ignored South and West Side neighborhoods. more

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