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City Council Approves Lincoln Yards, The 78

The Chicago City Council has approved taxpayer subsidies for two massive and controversial real estate developments.

Aldermen voted 31 to 14 in favor of tax increment financing (TIF) for The 78, an apartments and commercial space project planned between the South Loop and Chinatown. A short time later, they voted 32 to 13 for a TIF for Lincoln Yards, another mixed-use development along the Chicago River on the city’s North Side.

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