re: Dozens evicted from low-income units at American Can complex

quote:

---

Stealing tax payer money. $29 mm.

---

That's sad that you actually believe this.

To encourage private investors to put money into a run down eyesore of a property, the owners were allowed to issue tax free bonds to finance the redevelopment of the property.

Those bonds were bought by other investors. The $29 million did not come from taxpayers.

In exchange for the bonds being tax free to the buyers of the bonds, the owners had to commit to provide low income housing in part of the property for 15 years.

Where in that transaction was taxpayer money stolen?