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Former Mayor Richard M. Daley and his son want to raise $150 million from foreigners seeking to get a green card by investing in a downtown Chicago skyscraper. Federal rules require the investors to each put up $1 million for the coveted visa. Foreigners have to put up just half that for projects in areas with high unemployment. The Daley project sits in a lakefront census tract with just 1.7 percent unemployment — one of the lowest rates in the area. The Daleys gerrymandered the project area boundaries, tacking on poorer communities including North Lawndale so they can claim the project is in an area with 9.4 percent unemployment — and foreigners need to invest only $500,000.
Former Mayor Richard M. Daley and his son want to raise $150 million from foreigners seeking to get a green card by investing in a downtown Chicago skyscraper. Federal rules require the investors to each put up $1 million for the coveted visa. Foreigners have to put up just half that for projects in areas with high unemployment. The Daley project sits in a lakefront census tract with just 1.7 percent unemployment — one of the lowest rates in the area. The Daleys gerrymandered the project area boundaries, tacking on poorer communities including North Lawndale so they can claim the project is in an area with 9.4 percent unemployment — and foreigners need to invest only $500,000.
Former Mayor Richard M. Daley and his son want to raise $150 million from foreigners seeking to get a green card by investing in a downtown Chicago skyscraper. Federal rules require the investors to each put up $1 million for the coveted visa. Foreigners have to put up just half that for projects in areas with high unemployment. The Daley project sits in a lakefront census tract with just 1.7 percent unemployment — one of the lowest rates in the area. The Daleys gerrymandered the project area boundaries, tacking on poorer communities including North Lawndale so they can claim the project is in an area with 9.4 percent unemployment — and foreigners need to invest only $500,000.