To the Editor:
Hyde Park/ Woodlawn is not immune from the assessor using any excuse to raise assessments (which also yield a generous return from developers’ gratuities).
When I bought my building in 1978, I was protected by a law that restricted my assessed value from increasing more than 5% or the cost of living per year. It should be assessed currently at no more than $100,000, but the law was repealed, and it’s now assessed at $1.2 million.
The piece of Cornell Drive along the eastern edge of proposed site of the OPC is going to be torn up and planted with four acres of grass.
Chicago taxpayers have to pay $145 million for the unnecessary roadwork.
Cornell Drive was part of the Olmstead plan which was cancelled by a city council controlled by a lame-duck mayor. Property taxes in Woodlawn are going up $11 million a year, and the developers will make a fortune when all the poorer residents are driven out.