A coalition seeking to block subsidies for the Lincoln Yards project has filed a preliminary injunction that would, in essence, halt work on the $6 billion development before it gets started.
“Every economic indicator that has been analyzed has clearly shown economic growth in that area,” said Aneel Chablani, an attorney for the coalition, speaking to reporters at the Daley Center Thursday.
“The idea that but for these tax subsidies, development would not naturally occur in an area surrounded by Lincoln Park, Bucktown and Wicker Park stretches all reasonable interpretations of the statute.”
Lawyers for the city and the coalition are expected to discuss the motion for the injunction at a July 3 hearing at the Daley Center, Chablani said.
The activists — Grassroots Collaborative and Raise Your Hand Chicago — argue that allowing the relapse of $900 million in tax increment financing funds for the project could do long-lasting damage to poor communities desperate for funds.
Earlier this year, the coalition filed a lawsuit seeking to block the release of those funds. The injunction goes a step further — seeking to stop any work that would later by paid for through a tax increment financing fund reimbursement.
“As this development progresses and as the city incurs obligations on future tax increment financing funds, these organizations will continue to be harmed in terms of the advocacy they do and the constituents they serve,” Chablani said.
