We were a little bit surprised to see that the West Loop’s Gateway project nabbed a $7 million subsidy from the city this week.

The project, whose main retail portion seems to be all good and well, is adding another grocery store to the community — albeit a nice one. But it’s literally feet away from another grocery store, a Dominick’s, and just a stone’s throw away from the proposed Walmart Neighborhood Market that’s slated for Presidential Towers.

This is economic development — exactly what tax increment financing was designed for — but subsidizing this glut on the market seems silly. If it can’t support itself, why put another grocer in the West Loop?

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By Bob Gallo from West Loop
Posted: 07/17/2011 8:09 PM

Giving $7 million in taxpayer money for a grocery store when the city is bankrupt is not economic development. It's a misuse of taxpayer money for a private enterprise that should raise capital elsewhere. How many additional police officers, teachers, and needed infrastructure projects can these funds support rather than going into the pockets of private developers. This is nothing short of the fleecing of Chicago's taxpayers.