**Update 2:15 p.m.: The Daily Chronicle has posted the Memorandum of Understanding referred to in the press release. Don’t miss the confidentiality rules (Item 16) on page 7.**
The following is a press release from the Preserve Our Neighborhoods group, the organization that sparked a recent town-hall style meeting to clear the air on the city’s and NIU’s redevelopment plans.
FOR IMMEDIATE RELEASE:
City of DeKalb, Northern Illinois University and Local Banks Propose a Secret Memorandum of Understanding to Purchase Private Property
DeKalb, Illinois – May 27, 2014 – Preserve Our Neighborhoods, a community-based group in DeKalb, has received a copy of a confidential 8-page Memorandum of Understanding and a 50-page Operating Agreement whose purpose is to form a Limited Liability Company (LLC) between the City of DeKalb, Northern Illinois University (NIU), two local banks, and a local contractor. The expressed intent of this document is to begin the process of acquiring a number of privately-owned properties within the city of DeKalb adjacent to and/or nearby NIU, using both public and private seed monies initially totaling $1.35 million dollars.
Preserve Our Neighborhoods will be conducting a press conference to discuss this document on Wednesday, May 28, 2014 at 10 AM in the Fellowship Hall of the Unitarian Universalist Fellowship, located at 158 N. 4th Street in DeKalb, Illinois, 60115. In an effort to foster an open, community-wide discussion of an important matter concerning the potential expenditure of significant public and private funds, a summary of the joint Memorandum/Operating Agreement will be available in both print and electronic formats.
Ample media-related parking will be available at, or directly nearby, the venue of the press conference.
Preserve Our Neighborhoods
600 Lincoln Highway, Suite 277
DeKalb, IL, 60115
From this angle, the town hall looks less like clearing the air and more like blowing smoke.