Lincoln Yards Vote Postponed After Lightfoot's Request

CHICAGO — In one of her first acts, Mayor-elect Lori Lightfoot called for the delay of a vote that would push the Lincoln Yards development proposal forward. Mayor Rahm Emanuel said he wouldn't move forward without the green light from Lightfoot, so the City Council Finance Committee has postponed its vote for two new tax-increment financing districts that would subsidize the Lincoln Yards development and The 78, a mixed-use campus proposed between Roosevelt and Chinatown.

In a statement, Mayor Rahm Emanuel said he support's Lightfoot's decision.

"In our first meeting, as well as in subsequent conversations, I made it very clear to the mayor-elect that I would not move forward on these projects if she wanted to delay the process," Emanuel said. "While I firmly believe in the value of these projects to the entire city, out of respect for her wishes and request, I will honor my commitment and delay the vote. I am hopeful that under the mayor-elect's leadership of the new City Council these critical projects will move forward and bring the kind of investment and job creation that has been a hallmark of the past eight years."

Lightfoot wants the council to take a closer look at the proposed megadevelopments, their funding and their impacts on population density and traffic. She also wants to delve into how the projects would support minority and women-owned businesses.

The City Council Finance Committee was slated to vote on the deals Monday.

"From day one, I have raised concerns about these deals and the deeply flawed process that has led us to this moment," Lightfoot said in a statement released Sunday. "That's why I'm calling for the committee meeting tomorrow to be a transparent and fulsome subject matter hearing to address questions including consequences for other TIF districts, affordable housing options, plans for minority- and women-owned businesses, and impacts on diversity, population density, schools, traffic, and other factors. For major development projects to drive equitable economic growth, they must be coupled with community input and a transparent, informed decision-making process."

Sterling Bay has added more affordable housing to its $6 billion Lincoln Yards plan. The developer has agreed to pay a fee of $39 million, half of which would fund construction of about 1,000 affordable units across the city. The other half would fund 15 years of rental subsidies for low-income families through the Chicago Low Income Housing Trust Fund.

Other updates outlined by Sterling Bay have included increasing publicly-accessible open space and removing more than 100 floors of building height. The developer has also dropped its plan for entertainment venues and a 20,000-seat soccer stadium.

Read also:

• Sterling Bay Reveals Latest Lincoln Yards Plans To Community
• Lincoln Yards Development Raises Concerns About Traffic, Density
• Latest Lincoln Yards Survey Reveals Drop In Community Support