Get facts straight on Bring Chicago Home real estate transfer tax referendum

As a resident of Chicago, and as the president & CEO of Full Circle Communities, a Chicago-based nonprofit dedicated to increasing access to housing through affordability and resident services, I am invested in economic development across Chicago. I strongly support the Bring Chicago Home initiative, which aims to address our city’s homelessness and housing affordability crisis by making the real estate transfer tax or RETT — the sales tax paid by property buyers — more progressive.

Political opponents of the plan, such as those quoted in Fran Spielman’s recent story (“Johnson’s clout on the line with Bring Chicago Home referendum”) have repeatedly spread misinformation about the proposed policy. I’m writing to address and dispel these myths.

Political operative Greg Goldner argues that changing the RETT will make it harder to build grocery stores or housing in low-income communities. This is false: commercial properties in “enterprise zones” and affordable housing, predominantly located on the South and West sides, are exempted from paying the RETT entirely, ensuring that small businesses and companies wishing to invest in low-income communities do not face additional barriers to do so.

Restructuring the RETT under Bring Chicago Home will encourage affordable housing development. It exempts affordable housing from the higher tax rate, thereby protecting and incentivizing investment across this critical sector. In fact, by asking wealthy developers to pay their fair share we can generate new money for construction. The proposed policy is estimated to generate over $900 million for new construction over the next decade, creating more than 1,500 construction jobs and significantly contributing to our city’s economy.

It’s disheartening to see critics peddling misinformation about Bring Chicago Home, especially when hard data and examples of economic acceleration across the nation contradict their claims. Bring Chicago Home represents a thoughtful, evidence-based approach to tackling the growing homelessness crisis. The numbers don’t lie: it’s time to support policies backed by evidence, not fear. I encourage all Chicagoans to vote “yes” on Ballot Question 1 on March 19.

Joshua Wilmoth, president & CEO, Full Circle Communities

(Marshall) Field’s of dreams

Lynn Becker’s recent op-ed on the demise of Marshall Field’s due to the ineptitude of Macy’s management brought back a lot of memories for me. I worked at the State Street store in its heyday between 1971 and 1974 before leaving to pursue an MBA degree. I was proud to work for the greatest department store in the country in the greatest city in the country (at the time), with Mayor Richard J. Daley at the helm. It was a very exciting time to live and work in Chicago — an experience I’ll never forget.

I was part of the Executive Management Training Program (it sounds more impressive than it really was.) As an assistant buyer in “Floor Coverings,” I was privileged to meet people from all over the world who would visit our department to purchase specialized rugs and carpeting that only Marshall Field’s carried. I think we all knew that when Macy’s acquired Marshall Field & Company, that it was truly the beginning of the end for the famed institution.

Ron Carmony, Warner Robins, Georgia