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Only in Chicago could an $8 million affordable-housing subsidy in Edgewater cost taxpayers $75 million.

You might say that the residents and activists of Edgewater have their backs against the wall.

In recent months the city’s given them an ultimatum: if you want $8 million to save affordable housing for senior citizens, you’d better endorse the proposed Hollywood/Sheridan tax increment financing district, which will wind up costing taxpayers about $75 million in property tax dollars…....

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