Center on Halsted Receives $10 million in Low-Interest Loans from State

Aug. 7, 2002

Center on Halsted Receives $10 million

in Low-Interest Loans from State

BY ALEXIS MAISLEN
The Center on Halsted, currently a former Chicago Park District building and abandoned lot at 3640 N. Halsted, will receive $10 million in low-interest loans from state Treasurer Judy Baar Topinka's office, according to an announcement made during an Aug. 2 press conference.
Topinka's loan to the Center on Halsted project is part of her statewide Target Initiative Program, designed to provide low-interest loans to community-based projects that benefit the public good. The loan will allow the Center to borrow money at a fixed market rate, which depends upon the fixed interest rate at the time they are borrowed.
This will help the Center begin construction in mid 2003 and complete the project late in 2004. To date, the Center has raised several million from government grants and grants from foundations like Gill, Polk Bros, the John Baran fund, organizations like Northalsted Area Merchants Association and through fundraisers like the June 28 PRIDE dance on the future site of the new Center. Northalsted Merchants Association has pledged $200,000 to support the costs of the new community center.
Politicians, both local and statewide, have touted this GLBT community achievement as the first Center of its kind in the Midwest.
"The Center on Halsted will be the focal point of the GLBT community. It is the first center in the midwest of its size and scope. It hopes to provide everyday cultural and meeting spaces and provide a safe and nurturing place for the community," said Patrick Sheahan, chair of the steering committee for the Center on Halsted. The Center hopes to be a place convenient to both residents on the north, south, west and suburbs in all Chicagoland and provide special outreach to youth and seniors.
"This will be a safe nurturing environment and will serve as a catalyst for enriching the life experiences with programs to assist the community's cultural, emotional, social and recreational needs," said Topinka. "Investing in community organizations provides secure investment opportunities that benefit the community and the state. The next thing I want to do is come back here and cut a ribbon."
The Target Initiative Program has provided financial assistance for other organizations including Children's Place Association.
In attendance at the press conference were Mayor's LGBT liaison William Greaves; Ellen Meyers, representing the Secretary of State's office; Greg Harris, from Ald. Mary Ann Smith's 48th Ward office; Ald. Helen Shiller, 46th Ward; Michael O'Connor representing state Rep. Constance Howard; Art Johnston, an owner of Sidetrack and with Equality Illinois.
State Treasurer Judy Topinka and Mary Laraia, senior vice president of community affairs at LaSalle Bank, the bank that will administer the loan through their Link Deposit program, spoke at the Aug. 2 event on the future site of the Center. William Greaves, part of the government relations committee for the Center on Halsted, and Frank Oldham Jr., executive director of Horizons, were recognized as being instrumental in the process of acquiring the land for the Center. Rick Garcia, from Equality Illinois, and Art Johnston were acknowledged for helping work with Springfield.
"This will be an additional anchor to keep the integrity of Halsted Street," said Shiller.
The City of Chicago, with support from the Mayor's office and Ald. Bernie Hansen, made the land for the Center available at half of its appraised market value, re-financing the property at $2.74 million. Originally, the land was appraised at $5.4 million.
Horizons Community Services, steward of the project, acquired the land in their name and the land acquisition process is completely final, according to Center on Halsted project Director Morris Floyd.
"The city has been anything but wishy-washy in terms of commitment to the Halsted project and we don't think that is going to change," said Floyd. "It's definitely happening. And we've met every objective so far and we hope to continue that track record."
The Center hopes not to have to borrow the full sum of $10 million. They plan to take out short-term loans for a two- to three-year timeframe to close the gap between when the construction begins and when income comes in from the various grant contributions the Center has received.
"We plan to borrow as little as we need to borrow," said Floyd.
Later this year, a preliminary design for the Center will be revealed, including how much of the façade for the historic Park District Building will remain.
There is a strong possibility that About Face Theatre will have a permanent home in the Center. Other organizations that have indicated an interest in involvement in the Center are: Horizons Community Services, Amigas Latinas, Association of Latin Men in Action, Chicago Area Gay and Lesbian Chamber of Commerce, Chicago Metropolitan Sports Association, and Congregation Or Chadash. The Gay, Lesbian and Straight Education Network, the Gerber/Hart Library, the NAMES Project Chicago, the New Town Alano Club, Northalsted Area Merchants Association, Windy City Athletic Association and Windy City Performing Arts also want to be involved. The participation of each of these organizations will be finalized once city and state officials approve the design of the Center.

FROM LEFT: Mayor's liaison Bill Greaves, Mary Laraia from LaSalle Bank, Topinka, Patrick Sheahan of Horizons' board, and Ald. Helen Shiller. Photos by israel Wright

Topinka with Sidetrack co-owner Art Johnston at the press conference.

Back to Archived Front Page / Lambda Welcome Index / Nightspots / Blacklines / En La Vida / Out! Resource Guide / Current WCT Issue
Copyright © 2002 Lambda Publications Inc. All rights reserved. Lambda produces Windy City Radio, and publishes Windy City Times, The Weekly Voice of the Gay, Lesbian, Bisexual and Trans Community, Nightspots, Out Resource Guide, Blacklines and En La Vida. 1115 W. Belmont 2D, Chicago, IL 60657; PH (773) 871-7610; FAX (773) 871-7609. Web at www.windycitytimes.com E-mail feedback to outlines@suba.com!

Back to Archived Front Page / Lambda Welcome Index / Nightspots / Blacklines / En La Vida / Current WCT Issue

Copyright © 2002 Lambda Publications Inc. All rights reserved. Lambda produces Windy City Radio, and publishes Windy City Times, The Weekly Voice of the Gay, Lesbian, Bisexual and Trans Community, Nightspots, Out Resource Guide, Blacklines and En La Vida. 1115 W. Belmont 2D, Chicago, IL 60657; PH (773) 871-7610; FAX (773) 871-7609. Web at www.windycitytimes.com E-mail feedback to outlines@suba.com!

Aug. 7, 2002

Center on Halsted Receives $10 million in Low-Interest Loans from State

BY ALEXIS MAISLEN The Center on Halsted, currently a former Chicago Park District building and abandoned lot at 3640 N. Halsted, will receive $10 million in low-interest loans from state Treasurer Judy Baar Topinka's office, according to an announcement made during an Aug. 2 press conference. Topinka's loan to the Center on Halsted project is part of her statewide Target Initiative Program, designed to provide low-interest loans to community-based projects that benefit the public good. The loan will allow the Center to borrow money at a fixed market rate, which depends upon the fixed interest rate at the time they are borrowed. This will help the Center begin construction in mid 2003 and complete the project late in 2004. To date, the Center has raised several million from government grants and grants from foundations like Gill, Polk Bros, the John Baran fund, organizations like Northalsted Area Merchants Association and through fundraisers like the June 28 PRIDE dance on the future site of the new Center. Northalsted Merchants Association has pledged $200,000 to support the costs of the new community center. Politicians, both local and statewide, have touted this GLBT community achievement as the first Center of its kind in the Midwest. "The Center on Halsted will be the focal point of the GLBT community. It is the first center in the midwest of its size and scope. It hopes to provide everyday cultural and meeting spaces and provide a safe and nurturing place for the community," said Patrick Sheahan, chair of the steering committee for the Center on Halsted. The Center hopes to be a place convenient to both residents on the north, south, west and suburbs in all Chicagoland and provide special outreach to youth and seniors. "This will be a safe nurturing environment and will serve as a catalyst for enriching the life experiences with programs to assist the community's cultural, emotional, social and recreational needs," said Topinka. "Investing in community organizations provides secure investment opportunities that benefit the community and the state. The next thing I want to do is come back here and cut a ribbon." The Target Initiative Program has provided financial assistance for other organizations including Children's Place Association. In attendance at the press conference were Mayor's LGBT liaison William Greaves; Ellen Meyers, representing the Secretary of State's office; Greg Harris, from Ald. Mary Ann Smith's 48th Ward office; Ald. Helen Shiller, 46th Ward; Michael O'Connor representing state Rep. Constance Howard; Art Johnston, an owner of Sidetrack and with Equality Illinois. State Treasurer Judy Topinka and Mary Laraia, senior vice president of community affairs at LaSalle Bank, the bank that will administer the loan through their Link Deposit program, spoke at the Aug. 2 event on the future site of the Center. William Greaves, part of the government relations committee for the Center on Halsted, and Frank Oldham Jr., executive director of Horizons, were recognized as being instrumental in the process of acquiring the land for the Center. Rick Garcia, from Equality Illinois, and Art Johnston were acknowledged for helping work with Springfield. "This will be an additional anchor to keep the integrity of Halsted Street," said Shiller. The City of Chicago, with support from the Mayor's office and Ald. Bernie Hansen, made the land for the Center available at half of its appraised market value, re-financing the property at $2.74 million. Originally, the land was appraised at $5.4 million. Horizons Community Services, steward of the project, acquired the land in their name and the land acquisition process is completely final, according to Center on Halsted project Director Morris Floyd. "The city has been anything but wishy-washy in terms of commitment to the Halsted project and we don't think that is going to change," said Floyd. "It's definitely happening. And we've met every objective so far and we hope to continue that track record." The Center hopes not to have to borrow the full sum of $10 million. They plan to take out short-term loans for a two- to three-year timeframe to close the gap between when the construction begins and when income comes in from the various grant contributions the Center has received. "We plan to borrow as little as we need to borrow," said Floyd. Later this year, a preliminary design for the Center will be revealed, including how much of the façade for the historic Park District Building will remain. There is a strong possibility that About Face Theatre will have a permanent home in the Center. Other organizations that have indicated an interest in involvement in the Center are: Horizons Community Services, Amigas Latinas, Association of Latin Men in Action, Chicago Area Gay and Lesbian Chamber of Commerce, Chicago Metropolitan Sports Association, and Congregation Or Chadash. The Gay, Lesbian and Straight Education Network, the Gerber/Hart Library, the NAMES Project Chicago, the New Town Alano Club, Northalsted Area Merchants Association, Windy City Athletic Association and Windy City Performing Arts also want to be involved. The participation of each of these organizations will be finalized once city and state officials approve the design of the Center.	FROM LEFT: Mayor's liaison Bill Greaves, Mary Laraia from LaSalle Bank, Topinka, Patrick Sheahan of Horizons' board, and Ald. Helen Shiller. Photos by israel Wright Topinka with Sidetrack co-owner Art Johnston at the press conference.
Back to Archived Front Page / Lambda Welcome Index / Nightspots / Blacklines / En La Vida / Out! Resource Guide / Current WCT Issue Copyright © 2002 Lambda Publications Inc. All rights reserved. Lambda produces Windy City Radio, and publishes Windy City Times, The Weekly Voice of the Gay, Lesbian, Bisexual and Trans Community, Nightspots, Out Resource Guide, Blacklines and En La Vida. 1115 W. Belmont 2D, Chicago, IL 60657; PH (773) 871-7610; FAX (773) 871-7609. Web at www.windycitytimes.com E-mail feedback to outlines@suba.com!