GLENWOODDIDYOUKNOW...
FINANCIAL LITERACY MONTH FINANCIAL LITERACY
FINANCIAL LITERACY MONTH
*At the February 6, 2024 village meeting, I shared that several surrounding cities and villages recognized and scheduled events celebrating Black History Month. I expressed disappointment that Glenwood, a village that is over 70% African American, did not have any events scheduled to recognize the contributions of residents to the town and society, therefore; I created this newsletter to highlight as many as possible in this and future issues.
TheFederalReserveactsasafiscalagentorbanktothefederalgovernmentbyprovidingfinancialservicestothe UnitedStatesDepartmentofTreasuryandbysellingandredeeminggovernmentsecuritiessuchasSavingsBondsand Treasurybills
TheFederalReserveisthecentralbankoftheUSTheFedsupervisesthenation'slargestbanks,conductsmonetary policy,andprovidesfinancialservicestotheUSgovernmentItalsopromotesthestabilityofthefinancialsystem
TheFederalReserveisthecentralbankoftheUnitedStates.
TheFedmanagesinflation,regulatesthenationalbankingsystem,stabilizesfinancialmarkets,protectsconsumers, andmore.
AlthoughtheFedboardmembersareappointedbythepresident,itisdesignedtofunctionindependentlyof politicalinfluence
TheFedplaysasignificantroleinfinancialconcernsthataffectthelivesofallAmericans TheFederalReservehasfourmainfunctions:
Manageinflation:ThisistheFed'smostvisiblefunction.Aspartofthisfunction,theFedalsopromotesmaximum employmentandensuresinterestratesremainmoderateovertime.
Supervisethebankingsystem:TheFedsupervisesandregulatesthenation’slargestbanksandenactslawsto protectconsumers.
Maintainthestabilityofthefinancialsystem:Itmaintainsthestabilityofthefinancialmarketsandconstrains potentialcrises
Providebankingservices:TheFedprovidesservicestootherbanks,theUSgovernment,andforeignbanks BalanceMoney
FEDERALRESERVEBANKOFCHICAGO-DIDYOUKNOW...?
ClickFunFactsontheChicagoFederalReserve
TheFederalReserveSystemprocessescashat28officesthroughoutthecountry;Chicagoisoneofthelargest processingfacilitiesinthecountry
The$20isthemostfrequentlycounterfeiteddenominationwithintheUS,whileit'sthe$100outsideoftheUS
Deborah Birmingham, M.Ed., M.A.Financialliteracy is focused on the capability of someone to understand their own situation Economic literacy is focused on the capability of someone to understand their own situation, its broader economic context and thereby the situation of others. Dec 8, 2022
Make money, spend money: Groceries, housing, transportation, utilities, health, entertainment, and more. Oh, and don't forget about credit, debt, and financing!
If you know the cycle of your life, you know this is the reality. And you probably aren't going to change that reality. But if you spend money wisely, the cycle will be a lot easier to manage, and even more fun, too So, here's the secret to spending money the right way and becoming financial literate while you're at it: Always, and I mean always, be a healthy skeptic. A healthy skeptic is a FoolProof Skeptic.
ThisiswhatFoolProofisallabout: Be a healthy FoolProof skeptic when it comes to anyone who or any company that wants to touch your money or impact your wellbeing.
FoolProof Skepticism is as important to your life as food Be a FoolProof Skeptic, and the money you have will go further You'll respect yourself more. And even your overall health and wellness may improve. And, even though some debt may be necessary, we'll show you how to manage it and help you, rather than hurt you.
Here's how to glue FoolProofSkepticismin your brain:
1.
2
DoIneedit?
Doyouneedittosurvive?Ordoyoujustwantit? That can be a $500,000 question (The approximate amount of money you can throw away in your lifetime on purchases you don't need to make, or can get cheaper)
3.
4
CanIaffordit?
Don't kid yourself here For most everyday things, or toys and gadgets, if you can't afford to pay cash, you can't afford it At least right now Should you buy now, or save and buy in a while? And if you are impulse buying (which some people do all the time), please don't ever finance those impulse buys.
5.
6
IsthisthecheapestorbestplaceIcangetit?
Cheap may be good, but not if the quality is bad Whatareyoulookingfor? Are there less-expensive alternatives that fill your want/need? Does this place have the best customer service and warranty? Are they reliable? Maybe you should compare price and quality, first...
7
8
Isnowtherighttimetobuyit,orwillitbecheaperinthefuture?
This is yet another question to help stop your impulse buying habit! At certain times it may be cheaper to buy certain items than others. Think of Black Friday and electronics, for example. But consider too, that buying on a "cheap day" isn't smart if you can't afford what you want to purchase!
Four simple questions! You can memorize those, right? Try them this week What do you have to lose (other than money)?
Financial Literacy
I n t h e h e a r t o f t h e c i t y o r s u b u r b a n b l i s s , N o m a t t e r y o u r r a c e o r a g e , n o o n e i s m i s s e d , F r o m f i n a n c i a l i l l i t e r a c y , w e ' r e a l l o n t h e l i s t , I t ' s a u n i v e r s a l p r o b l e m w e c a n ' t r e s i s t . F r o m m e n t o w o m e n , y o u n g a n d t h e o l d , T h i s i s s u e ' s g r o w i n g , i t ' s b e c o m i n g b o l d , W e c a n ' t i g n o r e i t , l e t t h e t r u t h b e t o l d , I t ' s a s i l e n t c r i s i s , a t h r e a t u n t o l d .
F i n a n c i a l l i t e r a c y , i t ' s t h e k e y , T o u n l o c k p o t e n t i a l , t o s e t u s f r e e , A n e c o n o m i c s l a v e , w e r e f u s e t o b e , I n t h e l a n g u a g e o f m o n e y , w e ' l l f i n d o u r s p r e e .
1 6 y e a r s i n s c h o o l , b u t w h a t d o w e g a i n ?
S k i l l s f o r a s a l a r y , b u t w h a t a b o u t t h e f i n a n c i a l s t r a i n ?
S a v i n g , i n v e s t i n g , g r o w i n g - i t ' s a d i f f e r e n t t e r r a i n , W i t h o u t t h e s e , a l l o u r e f f o r t s a r e i n v a i n .
C o m p l e x f i n a n c i a l p r o d u c t s , t h e y k e e p o n g r o w i n g , T h e r e s p o n s i b i l i t y a n d r i s k , t h e y k e e p o n s h o w i n g , A h i g h e r b u r d e n o n u s , i t k e e p s o n t h r o w i n g , T h e n e e d f o r f i n a n c i a l e d u c a t i o n , i t k e e p s o n g l o w i n g . F i n a n c i a l l i t e r a c y , l e t i t r i s e , O p e n y o u r m i n d s , o p e n y o u r e y e s , I n t h e s e c r e t p s y c h o l o g y o f m o n e y l i e s , T h e p a t h t o b e c o m i n g f i n a n c i a l l y w i s e . A l a c k o f m o n e y i s n ' t t h e p r o b l e m y o u s e e , I t ' s a s y m p t o m o f w h a t ' s w i t h i n y o u a n d m e , F i n a n c i a l s u c c e s s i s n ' t a m y s t e r y , I t ' s a b o u t c h a n g i n g o u r f i n a n c i a l h i s t o r y . T e a c h e r s , y o u ' r e t h e k e y , y o u ' r e o u r g u i d e , I n y o u , o u r t r u s t a n d h o p e s r e s i d e ,
Y o u r q u a l i f i c a t i o n s , t h e y c o i n c i d e ,
W i t h o u r s u c c e s s , i n y o u w e c o n f i d e .
F i n a n c i a l l i t e r a c y , i t ' s o u r r i g h t , I n t h e f a c e o f e c o n o m i c p l i g h t ,
W i t h k n o w l e d g e a n d w i s d o m , w e ' l l i g n i t e
A f u t u r e o f f i n a n c i a l i n s i g h t .
W e w e r e n ' t t a u g h t t h i s i n o u r s c h o o l ,
B u t i t ' s t i m e t o c h a n g e , b r e a k t h e r u l e ,
F i n a n c i a l l i t e r a c y , i t ' s o u r t o o l ,
T o t u r n t h e t i d e , t o r e f u e l .
© G r a d e A C u e
Robbie Bright, MBA/CPA
Brookwood School Dist. 167
Bloom H.S.
UniversityofIllinois - Accountancy(CumLaude)
University of Texas - MBA
| g p inessPartnership|ManufacturingandSupplyChainFinance|Cross-Functional LeadershipandCollaboration|FinancialPlanning&Analysis|Mergers&Acquisitions
About
Hands-onandresults-drivenFinanceLeader(MBA/CPA)withexpertiseinmanufacturingandsupplychainoperations,strategy planningandexecutionandfinancialplanningandanalytics Possessakeentalentforcross-functionalcollaborationtoachieve businessresults.
Trustedandactiveadvisortoseniorleadershipwithstrengthindissecting,analyzing,synthesizingandpresentingcomplex solutionstorecommendstrategicfinancialdecisions
Successfulinidentifyingcostreductionopportunities,assessingviabilityandinfluencingbusinesspartnersonachievability.
Effectiveleaderofmulti-faceted,culturallydiverseteamsofprofessionalslocatedthroughouttheglobe(US,ChinaandEurope) PublicaccountingfoundationwithdemonstratedleadershipandaccomplishmentsintheLifeSciencesandConsumer PackagedGoodssectors.
Whatinspiredyoutostudyfinance?
Workingwithnumbersrunsdeepinmyfamily MymomisaretiredMathTeacherforChicagoPublicSchools andmyoldersisterhada successfulcareerinaccounting.Sogenetically,Iwasverygoodatmathandthatwasmyfavoritesubjectinschool.Aftertakingan accountingclassinhighschool,Iquicklydecidedthatwouldbemymajorandmycareer
Aftercompletingmyundergraduatestudies,Iwentintopublicaccountingandhadtheopportunitytointeractwithbusinessleaders andlearnwhatmadethemsuccessful ThisexperienceledmetopursuemyMBAinFinance
Whyisfinanceimportant? Whetherinapersonalorprofessionalcontext,financerelatestomoneyandcashmanagement How successfulyouareindoingthishasadirectcorrelationtosupportingandmaintainingyourdesiredlifestylebutitisalsocriticalto wealthaccumulationandprovidingforfuturegenerations.
Whatdoyouenjoymostaboutyourcareer?
Mostpeopledonotlikedealingwithnumbersorjustdon’tunderstandwhattheymean Ilovebeingabletoconnectactionswith financialresults I’vebeensuccessfulinpartneringwithbusinesscolleaguestomakeintentionalandeducateddecisionstodrive desiredbusinessresults.
Whatadvicewouldyougiveyoungpeopleontheimportanceoffinances/financialliteracy?
Moneymanagementisacriticallifeskillnomatterhowmuchmoneyyouhave.Learnthebasicslikebudgetingandlivingwithinyour meanswhileinvestingandaccumulatingwealth Thereisplentyofliteratureonlineforselfstudybutconnectwithtrustedfriendsand professionalsinthisspaceforfurtherguidanceandinsight
Isthereawork-lifebalance,ifso,whatisyours?
Achievinganoptimalwork-lifebalancehasbeenachallengeinmychosencareerpath.EarlyonIwasfocusedonbuildingknowledge, credibilityandrelationships AsIprogressed,Ilearnedsmarterandnotharderresultinginabetterbalance Iknewmoresoitbecame easiertomaketrade-offsandtogetcomfortablewithexcellenceversusperfection Ialsobecamecomfortablewithdelegatingand gettingthingsdonewiththehelpofothers.
ookwood Point meowners Association
t on a strong foundation. It’s a foundation built around shared values, active participation and a sense of community. It is incumbent upon us all to continue this legacy that has been established.
Community involvement is crucial in creating and maintaining vibrant, forward thinking, resilient communities. As cultures evolve, it is important for the community to be architects in the evolution. Each of us, as Glenwood residents, play a vital role in maintaining the quality of life, preserving property values and fostering a sense of community. There is an educator that said, “idealization is only as great as actualization”.
The next step after having an idea, seeing issues, is to act with a sense of urgency. The specific action that I’m asking for is for residents to get actively involved with your Homeowners Association. Glenwood has four that represent the different subdivisions. We cannot afford to allow apathy to guide us as this leads us down unknown paths blindly
If we are going to grow as a community, we must employ all to get involved.
Bailey Hadnott Taylor, P.E., M.S.
Brookwood School District 167
Homewood-Flossmoor H.S.
University of Iowa
University of Minnesota
I am currently an Environmental engineering consultant at Barr Engineering Company, located in Minneapolis, Minnesota My work includes serving industrial and public clients who have water and wastewater treatment problems to solve I have worked at Barr for three years and in addition to serving clients, I am also involved in Diversity and Inclusion initiatives, and am very passionate about seeing more people of color in the engineering field I have a minor in Spanish and Mathematics, and I am currently working towards my Master's degree with the University of Minnesota.
Whatmotivated/inspiredyoutostudyEnvironmentalEngineering?
An event in middle school that focused on a Cholera outbreak in Africa inspired me I knew I wanted to bring clean drinking water to people I knew I had a passion for math and science in middle school and high and applied for a major in the area
Whyisenvironmentalengineeringimportanttothecommunity?
It comes down to the air you breathe and the water you drink In order to get that, it takes a lot of engineering and I don’t think they (the community) get that If we aren’t aware, we can get taken advantage of If my clients have a hint of a contaminant or a new facility wants to get rid of their waste to provide clean water for consumer use. they call on us and we will troubleshoot
DuringtheNationalSocietyofBlackEngineers(NSBE)Conventionworkshop,thepresenterdiscussedtheneedformore environmentalengineers.Whyshouldyoungpeopleconsideracareerinthefield?
This generation inherits climate change, economic gaps, and failing infrastructures; it will take different thinkers to solve the problem The more people we get that reflects the community is the best way to go forward and have a voice in the solution
Howcanschoolsrelaythemessageofgreatopportunitiesavailableinenvironmentalengineering?
First, the word engineer may turn people off as being too hard Schools can make students aware of the great opportunities available in environmental engineering by breaking down the wall and having more local people in the field. Exposing students now to NSBE is the thing to do to make it less like a pipe dream and more of a reality with people talking about their experiences, having more examples of success stories, breaking down financial barriers to attend community colleges, universities, and conferences. There must be less disparity Getting access is the biggest thing
Whatdoyouenjoy/dislikemostaboutyourjob/career?
I solve complex problems I feel what I do matters I help create Someone somewhere has clean water It’s never the same thing everyday. The dislike- a lot of my work has government or political ties.
Isthereawork-lifebalance,ifso,what’syours?
Post COVID, my work life balance isn’t very good I think about work outside of work hours We’re so available on weekdays and weekends.. I’m so passionate about my work that I find myself working more than I have to. In a career, setting boundaries early is important You can create a balance by getting rid of pleasing people
Whatadvice/suggestionswouldyougiveyoungpeopleontheimportanceoffinances/financialliteracyand/orseekingacareer inEnvironmentalEngineering?
Do not be afraid to ask questions. My first year, I thought I had to be super smart. I could have gone further if I asked. It takes persistence and patience Stick with it and come out with a meaningful degree Follow your passion, ask a lot of questions, and set boundaries.
Interest: camping with the dog, trying new recipes, and traveling
ERIC SLAUGHTER
PRIMARY, CEO CIRE Group, Inc.
COOK COUNTY HOUSING COMMISSIONER
CHAIR OF CEDA (COMMUNITY AND ECONOMIC DEVELOPMENT ASSOCIATION)
PAST, CEDA BOARD TREASURER
Highlymotivated,Energetic,Overachievernotedforachievinghighlevelsofresultsfromteammembers.Strengths in;CreatingInnovativeStrategies,PenetratingNewMarkets,andManagementofTeammates,PublicSpeakingand Leadership.
CAUSES:ECONOMICEMPOWERMENT
Whatmotivatedyoutostudybusinesseconomics?Ifellintoitafterleavingthemilitary.ThefirstthingItoldmymother was,“I’llnevermakeyoucry.”Thatmeant,Ididn’tdodrugs;Ididn’tsmoke;I’mnotgoingtogotojail,period.WhenIgot outofthemilitary,Iasked,whatcouldIdotomakethebiggestimpactonmylife,andotherslives?AndIthoughtabout banking.IthoughtaboutbankingbecauseofJesseJames;Iwasn’tgoingtostealthemoney;Iwasgoingtofigureout howtoworkwithandmakemoneyItwasacareerthatmanykidslikemedidn’tgetTheblackkidsthatlooklikemedidn’t getthatinformationIbeganinbankingwhereIlearnedaboutthe5Csofcredit:Character,Capacity,Conditions,Capital, andCollateral
IdidsowellandgotsomucheducationthroughthevariousbanksthattheymademetheRegionalDirectorofCorporate LendinginTexas.Thisisaneducationthatnoschoolisgoingtogiveyou.ThisisaneducationwhereI’mayoungblack guythatalotofpeople,(ifyouheardmeonthephone),soundslikeamiddleagedwhiteguyandthat’show,honestlyI wasabletogetaroundalotofthingsbecauseIdidn’tsoundlikeablackperson(butwhatdoesthatsoundlike),andit reallygottothepointwhenanolderwhiteguycameintomyofficeandsaid,“Eric,it’snotamatterofwhoowesyou money,whatyouowe,oranythingelseWhatreallymattersisthatcreditdoesn’tmatter,it’sassetsYoudon’tneedto showmoneyuntilyouneedtoborrowmoney”Thisisstuffinthe‘RichDadPoorDad’,wenevergotSo,understanding thosethingsandhowpeopleareabletouseotherpeople’smoney,howpeopleareabletousecreditandassetstoget whattheywantandtradethingsandservices,andsoIjustbecameanabsolutestudyofitallIwasthenrecruitedand movedtoChicagotoconsultbanksandcreditunionsaroundtheworld
MyclichethatIsayIstolefromZigZiglar,“ifyouhelpenoughpeoplegetwhattheywant,enoughpeoplewillhelpyouget whatyouwant”.Idon’tgoaftermoney,power,status.Ijustdowhat’sright.Ifyoudowhat’sright,goodthingswillcome yourwaySomeofthemostimportantthingsinlifearenumberone;yourhealthandnumbertwoishappiness,everything elsewillfallinlineDoingtherightthingfortherightreason,notexpectinggratitudeorapatontheback,othersrecognize youraccomplishmentsandtheycomebacktoyouandaskyoutodothingswithandforthemThatiswhathasexcelled meinmycareerPeoplehavecometomebecauseofmyskillsetandhonestyabouttheirsituations
What do you enjoy most about your job/career? My freedom. I gave up a high six figure income because of stress. People retire from jobs like this and pass away 4-5 years later because of what they put themselves through. I'd rather be happy and healthy Now, I enjoy being able to help as many people as I can What can I do so that I can make a living and not work as hard? For me, it’s Medicare insurance and the ability to help people in almost any state Because I’m a long-term thinker, I can help them with Medicare and my clients don’t pay me anything. I talk to grandma, grandpa, and assist them with their grandchildren where I can help them while I build long-term relationships that can help me as well This gives me the opportunity to travel, to help others, work two days a week if I choose Health is more important than power, and freedom is more important than money Unfortunately, most of us don’t get to that point We find that we’ve given up so much for so little. Being a younger person and listening to what my older clients have to say; I pay attention. I choose life.
You volunteer on the Finance Committee for the village. What is the purpose of the committee and why is it important to the community? Why is finance important for a community?
The premise of the committee is to help the city make a concerted effort as to where the city is spending the citizens tax dollars. It’s an oversight to the elected officials to point out potential issues, pitfalls, grievances, or detriments that may happen down the road It’s the ability to ensure that the city is making sound decisions on behalf of and in the best of its citizens We are a collection of various citizens with various backgrounds looking over new business coming into town, TIFs, bonds that the city may be involved in and this all wraps up into your household taxes. One of our biggest issues is don’t spend what you don’t have You can’t spend what you don’t have, and as a household we know what we get in and how much to spend going out The village should know what their budget is and what their spending of the budget We want to be sure we’re on track Elected officials must own-up to the budget at an annual meeting, we must hold our elected officials accountable.
What advice/suggestions would you give young people on the importance of finances/financial literacy and/or seeking a career in your area of study?
I know we place a tremendous amount of pressure on young folks for education We are in a different criterion now than where we used to be, now we have AI scanning resumes. One of the things, as I talk to young folks, that we are missing is the ability to build relationships. That is one of the biggest issues that young folks have. They are electronically and technically a lot smarter, but one of the skills sets that the older generations (50+) have is the ability to build bridges and relationships and down the road that’s what matters most
I’ve been tapped to join boards and other major organizations during my professional career. You work hard when you’re young, so you don’t have to work as hard when you’re older, or not at all.
I would like to see CEDA build a training facility in the northern suburbs, as we do in South Holland to assist high school students learning the skills necessary to be a positive contributor to society and to thrive Understanding the family dynamics and building family relationships, students need sparks from their family history Young people 14–21-year-olds, figure out what you think you want to do by the time you're in the 10th grade.
Expose yourself to things outside of your community. Speak to someone who is doing what you think you would like to do, and job shadow them if you can or take them to lunch or out for a coffee as you seek their help to explore In regard to finances, understand your own pocketbook What’s coming in and what’s going out Do you want an investment or a savings? Understand the value of worth. Get the things you need and save for the things you want.
Is there a work-life balance, if so, what is yours?
Yes Because I have freedom, I’m vibrant and can travel internationally, swim, and bike, all the things I enjoy My father said, “no matter how smart or dumb you are, no one can take away your life experiences” Go out and explore life to see the world A person’s demeanor changes when their environment changes
Get a passport and travel the world. New Zealand, Germany, Sri Lanka, Nome Alaska, Austria, Belgium, Russia, Norway, Korea, and Cuba are a few of the 96 countries I’ve traveled to Again, health is more important than power and freedom is more important than money
CHOOSE WISELY
VILLAGE OF GLENWOOD TIF 101
The history of tax increment financing goes back to the 1950s.
First let us get the acronyms out of the way
T I F stands for tax increment financing
E A V stands for equalized assessed value
But for means the development will not happen without the incentive.
Base EAV means the value of all the parcels in the TIF district before the TIF district was established.
Growth in the EAV means the difference between the base EAV and the current EAV.
Tax rate means the percentage of the EAV that goes to taxes.
Increment means the growth in the EAV that goes into the TIF fund
Levy means the amount that the taxpayer is burdened with by a particular taxing body
The Village of Glenwood has had TIF Districts for 33 years. The seven TIF Districts in the Village of Glenwood generated $3,462,897.29 in tax year 2021 which is received in 2022. Those same TIF Districts generated $4,689,680.73 in tax year 2022 which is received in 2023.
What is a TIF District? A TIF District is designated and designed by your local government The TIF District has an original life span of 23 years and can be extended for as long as two additional terms of 12 years with the approval of the other taxing bodies.
TIF Districts can have both positive and negative effects on the municipality and the other taxing bodies The potential benefits are, increased economic growth, removal of blighted areas and increased property values The negative effects are lack of transparency in decision making, diversion of revenue and less funding to schools and other taxing bodies during the life of the TIF District.
There needs to be better oversight, monitoring, planning and collaboration between the Village of Glenwood and other taxing bodies like schools, the library, etc During the 23 years of the TIF District monies are diverted away from the taxing bodies into a TIF District controlled by the Village of Glenwood Many Elected Officials do not fully understand the impact of their votes to use TIF monies. For each dollar of TIF money that is wasted, thirty cents are lost to the Village of Glenwood. Another 30 cents are lost to Brookwood 167 and 15 to 20 cents is lost to either Bloom or H F High school.
TIF Districts can be beneficial but only if the Village, citizens, and other taxing bodies can fully participate in the disbursement of TIF funds
1. I would like to present you with all sides of the TIF incentive argument. The first argument is from the Cook County Clerk's Office. The Cook County Clerk's Office oversees the TIF reporting. Every ordinance from the city or village must be sent to the Cook County Clerk's office to direct the Cook County Treasurer to allocate the amount of the increment back to the village The TIF reports are on the Cook County Clerk's website The reporting is a year behind since we pay taxes one year in arrears. For more information visit https://www.cookcountyclerkil.gov
2. I have enclosed a chart to show how the TIF increment works
3. The second side of the argument is from developers who want to attain as much from the Village as possible. Many developers are demanding as many as five different incentives to even consider investing in our community The incentives that developers seek are as follows.
1 Class 8, 7A, 7B, 7C, 6A or 6B. I would like us to consider Class 7C, which is only for 5 years instead of Class 8 which is for 12 years.
2 TIF funds TIF districts are typically 23 years in life so if a developer gets into the TIF district at the beginning of its life they can capture a greater amount.
3 Sales tax sharing Many agreements have a sales tax sharing clause where the village and the developer share in the amount of sales tax.
4 Mortgage forgiveness where the developer’s mortgage is forgiven in lieu of property taxes or sales taxes
5. Land. Many developers demand land below market value or for free as well as the waiving of permit fees.
Developers want to spend as little as possible of their money and attempt to leverage as much as they can. It’s important that we scrutinize their income projections and cost projections
The other side of the argument are those that claim that TIFs are biased and or racists. The argument is that TIF funds are diverted from minority neighborhoods and given to developers instead of going to schools, parks, etc You can visit https://civiclabs.us for more information.
Now for the practical side of this argument that affects your bottom line. The most successful TIF has been the Industrial Park TIF which unfortunately sunsets in the tax year 2026 The next most successful TIF district is the Holbrook/Halsted TIF which was the TIF that included the old Walmart and now the U-Haul property.
That TIF district has declined since Walmart left Walmart paid $1 6 million in taxes in tax year 2016 of which 1 3 million went to the village instead of the other taxing bodies. Now U-Haul is only paying around $800,000 and the Village just granted them a Class 8 which will reduce their taxes by 60% U-Haul paid $682,000 in the Holbrook Halsted TIF District which will be reduced by 60% so that TIF District will see a large decrease in revenue.
The bottom line is that when increment funds are diverted to the village they must not be wasted. TIF funds can be used for many things to help the residents of the Village of Glenwood. For example, we can use TIF funds for job training. I am not aware of one single resident being trained We should be doing a ten-year TIF report to make sure that our TIF districts are effective. To my knowledge we have never done a ten-year TIF report. There is no transparency in how much of the TIF funds are spent I suggest that 20% of TIF funds be declared a surplus and reinvested into our community The last surplus was declared in 2013.
Finally, the Halsted South TIF district is the TIF that I am most dissatisfied with This TIF district does not just include the old Glenwood Plaza. That would be too simple. The Halsted South TIF district includes all the apartment buildings, all the homes on Roberts Drive, all the homes on Gay Court, homes on 187th Street, Chase Bank, Aldi, both auto parts store and the new development and this TIF still owes the taxpayers $1,950,000 and other TIF districts millions
What do you think happens when the taxing bodies have to wait 23 years to enjoy the increase in property values in TIF districts?
There is also the issue of control. All the fund transfers between TIF funds are required to be Board approved. I can tell you that has not happened during my time as a Board member
There are many unintended consequences of TIF districts. One would be the Glenwood-Lynwood library having to sell their book mobile due to not receiving adequate funding and school districts and other taxing bodies having to increase the amount of their levies to make up for the monies lost.
I was pleasantly surprised to receive an email from the Senator’s office inviting me to join him as he visit the Underground Railroad Memorial Park. It was truly a historic event and an honor.
Click the link to view the entire report Village of Glenwood Water Quality Report - 2022
WATER
Water, Water
Water, water, we need you so,
To quench our thirst and make us grow.
You're essential for life, And we're grateful for your gift.
But not all water is clean, Some is dirty and mean.
It can make us sick, And even make us die quick.
So we need to protect our water, And make sure it's always pure.
We need to filter it and boil it, And make sure it's safe to drink.
We need to conserve our water, And use it wisely.
We need to share it with others, And make sure everyone has enough.
Water is a precious resource, And we need to take care of it.
We need to make sure that everyone has access to clean drinking water, Because it's essential for life.
GLENWOOD’S NEWEST LEADER
Future Career:
Dentistry or Occupational Therapy
Hobbies: traveling to Hawaii Florida, North & South Carolina, and New York City, bowling, swimming, reading, playing with my dog spending time with my family
Whatareyouinterestedinstudyinginschool? I’m interested in becoming a dentist or dental assistant because I'm used to having braces and I think that I will help people that have braces and have problems with their teeth or an occupational therapist because I love helping people
Howdiditfeeltoworkyourfirstsummerjobandhaveyourownmoney?
I loved my first job experience. I did Emergency Medical Technician (EMT) training that taught me how to provide emergency care to people. I was trained to read heartbeats, take blood pressure, and give an IV.
Didyousave,spend,orinvestyourmoney?Ilovehavingmyownmoney
I put some in my checking account and then I put the other half in my savings account.
Didyouhavetobudgetanyofyourmoney?Wereyouabletospendsomeofyourmoneyforwhatyou wanted?
Yes, but I didn't spend a lot .
Whatadvice/suggestionswouldyougiveyoungpeopleontheimportanceofgoodgrades,finances, and/orcollegepreparation?First, in order to have good grades, you have to study. I have to study to get good grades or I’m not going to get good grades
As for finances, see how much you want to spend and how much you want to save and that really helps. As for college, I feel that if you go to college, you will learn more than if you don't go to college and you will have a better education.
Isthereaschoolworklifebalanceforyou,ifsowhatisyours?
Sometimes yes and sometimes no. Sometimes, all I think about is school homework. The next day, I would think about work and what I have to do I usually take a break from my work by reading, watching television or going outside.
Just be your best!
Dream destination: Paris- I heard they have a lot of fashion. I want to see if the fashions are like mine.
B r o o k w o o d S c h o o l D i s t . 1 6 7
M a r i a n C a t h o l i c H . S .
S p e l m a n C o l l e g e
T h e N a t i o n a l S o c i e t y o f
L e a d e r s h i p & S u c c e s s N o m i n e e
Sophomore Computer Science Major | Interactive Media Minor | Aspiring Web Developer & UI/UX Designer | Creativity & Innovation Enthusiast
What an incredible journey it has been, filled with invaluable experiences and profound lessons. I am thrilled to share that I embarked on a transformative service-learning trip to Tanzania, East Africa, alongside Planting a Seed International (PASI) over Spring break
During this remarkable adventure, my cohort and I had the privilege of collaborating with esteemed organizations such as the United Nations and the Youth of the United Nations in Tanzania. Together, we engaged in in-depth discussions on pressing global challenges, ranging from climate change and poverty reduction to quality education, peace, and justice. We also formed teams to explore local implementation strategies for select Sustainable Development Goals among the 17, with my group specifically concentrating on the third Goal, “Good health and well-being ”
Moreover, our journey took us to the University of Kampala and Gongo La Mboto Jica Primary School, where we engaged with scholars and actively participated in cultural exchange. These interactions allowed us to embrace cultural diversity, forge connections, and discover common ground.
This service-learning experience has truly broadened my perspective, introducing me to a new culture and way of life. It has ignited a passion to establish myself as a global citizen dedicated to making a positive impact internationally. Moving forward, I am inspired to continue seeking opportunities abroad, using travel to deepen my understanding of the world.
I am deeply thankful for this enriching experience and the invaluable support and guidance of my cohort, program director lead professor, and tour aides Until we meet again, Tanzania, Asante sana! ✨ g hashtag#StudyAbroad hashtag#TanzaniaAdventure T
H u s b a n d
F a t h e r
G r a n d f a t h e r
E n t r e p r e n e u r
E d u c a t o r
Mentor & Boy Scout
H i s t o r i a n
P h i B e t a S i g m a
Early in life, my grandfather, who was basically my default dad, motivated me to be an entrepreneur I never knew my dad; To this day, I never knew who he was. My grandfather was a preacher, but he was also a kind of a jagged -leg, do -ityourself person He did all kinds of work He built a house I helped him as a kid, myself and my uncles
We helped him build the house out in Bowie, Maryland We lived in Washington, DC, but he had some land out in Bowie, Maryland that he grew a lot of food and vegetables on, but he decided to build a house.
And it wasn't much of a house, but we got it built and it was livable He lived in that house for a while And he was always talking about doing your own thing. In fact, he got me started as an entrepreneur, doing yard work, landscaping for some folks out in Alexandria, Virginia.
I was 14 or 15 years old when he came home one day and told me of a lady out in Virginia who wanted to have her yard done, and told her I would do it. I don't know how he knew these people. I said, “okay”, He dropped me off at her beautiful house; It was a home that, growing up in DC., we weren't used to. We had a decent house, but we didn't have houses, you know, I had never been in a house like this out in Virginia He showed me how garden and put down mulch and fertilize She helped me get two others, people saw her yard, say, gee, who does your yard? And so they were shocked when they found out that this kid, this young teenager, was taking care of her yard. And so I had two more houses to do.
Three days a week, I'd go to Virginia My granddad would drop me off, and I'd hitchhike or whatever to get to other houses It got to the point I had like five houses to do The money was pretty good for back those days They weren't giving me much; it was peanuts, because they were paying black people as little as possible. But for me, that was good money, you know? And based on the fact that I was coming from collecting newspapers and pop bottles, and wanting to make money, having somebody give you a crisp $5 bill, I was in tall cotton So that got me interested in business And had I been really smart, I would have continued, I could have built that up Looking back on it, I thought, why didn't I, when I was old enough to get a truck, buy some equipment, hire some other guys to help me? My grandfather he had a business mind, but it was on a small southern type scale, so he didn't advise me on how to build it up. Looking back, I could see that. That’s how I got me interested in business
Like a lot of blacks back in the 50s, I was planning on joining the military when I graduated from high school. What else was I going to do? I had no skills; I did not view cutting grass as a marketable skill. I didn’t know anything about the whole term marketable
So I planned on going to the Navy, but then I found out about D .C. Teachers College. A recruiter came to campus, and said, “you can, you know, be a teacher. We need teachers badly.” He said it was $35 a semester. I said, whoa, I didn't pay that because at the time I was working at a grocery store as a stock clerk You know, from 11 o 'clock at night to 8 in the morning I leave work to go to school I've been working every day of my life since I was 15
I worked all through high school I would come home from school do my homework, go to work, and go to bed
I repeated that cycle and just wanted to get away from it, so the teaching profession in the 50s was probably the most obvious profession for black people because the only professionals that I had ever met were doctors and school teachers I could be a schoolteacher. I could do those classes and decided I wouldn't join the Navy. I was going to teachers’ college because it was the most obvious and quickest way to making a good living My first wife and I had kids so I had to start making real money
Aftermyfirstyearofcollege,Itookajob,asalibrarypage,withtheUnitedStatesSupremeCourtthathadquitean impactonme
IwasgoingtoschoolIntheeveningandworkingthecourtfrom9to5;itwasagoodanddecentjobasa student Librarypageswerecollegestudents IwasexposedtoalotofgreatnessamongalltheSupremeCourt Justices.Iwouldgototheofficeseverydaytotake,dropoff,andpickupbooks.Soveryearlyinlife,at18yearsold,I gottomeetfamouspeoplewhowereknowledgeable,verywellpaid,andarticulate Thankgoodnessmygrandfather raisedallofhiskidsandhisgrandkidstobewellspokenduetospeakingandrecitingpoemsinchurch Welearned earlyontospeakwell.Imovedverywellinthatcircle.Myfriends,whoseparentsweretypicallylaborers,didn'thave thatadvantage SoIwasfortunateenoughtobeabletodothatjobanddoitwellandmetalotofpeople
That'swhereImetThurgoodMarshall,whoatthetimewasanattorneyfortheNAACP.Anddowntheroad,he introducedmetoDr King Mr Marshallwouldcomeintothelibrary2-3timesaweekifheneededresearchforacase Hewouldcomeintothelibrarywherethelawyerswouldfilloutabookrequestsheetandputitonastack.Inoticed thatthelibrariansalwaysmadesuretokeephisrequestfrombeingattendedto.Hewouldnevergethisbookrequest filleduntileverybodyelsegottheirsfilled Iwouldtakeabunchofbookmarksandactuallygothroughandputthe pageshewantedtocite.Finally,onedayIsaid,Mr.Marshall,I'mgonnatellyousomething,youcan'ttellanybody becausethey'llfiringme.“Heasked,“what'sthat?”Isaid,“theytakeyourrequestandmakesurewenevergettothem. I'vebeenpullingyoursheetsoutandgettingyourrequestdone SoIjustwannaask,aretheyokay?”Ialwaysthought thelibrariansweredoingit.Isaid,no,Ifigureditout.Hesaid,man,thisisgreat,butthanksfortellingme.TheonlytimeI everheardhimcurse,hesaid,“Iknewthose****wereuptosomething“
Mr.MarshallstartedaskingformewhenhecameintothelibrarybecausemybuddyandIweretheonlyblacksinthe library HewouldcallformeagainbeforeheleftandaskhowamIdoing Itoldhimaboutmyinvolvementinsit-ins, lunchcountersit-insandhowI'dbeenlockedupandstuff HegavemehiscardandtoldmetocallhimifIeverneed himinthefuture.ItoldhimI’mmarriednowandhaveakid.Mysit-indaysareover.Soeverytimehe'dcomein,we'd chataboutwhatI'mdoinginschool,I'daskwhatcaseshewasworkingon,whatwascomingdownthepike,andwhat couldIexpecttoseeinthenewspapersaboutwhathewasdoing WecamerealcloseovertheyearsthatIworked there. Oneday,Igotacallovertheloudspeakers,Iwenttothefrontdeskandwastoldmybuddywaswaitingforme. AsIwaswalkingtothetable,Inoticedhewasstandingtherewithanotherguy-aguywhowaskindofshort Mr.Marshallsaid,“Iwantyoutomeetafriendofmine.Youprobablyknowhim;thisisDr.MartinLutherKing.Isaid,“Dr. King IthoughtIrecognizedyou,butIwasn'tsure” Hesaid,“yeah,youngman,don'tworry,alotofpeoplewouldsay thesame.” Wechattedaboutmy,goingtoschoolandaboutcivilrightsissuesDr.KingandMr.Marshallwereworking on. Wedidn'thaveallthesegadgetsandlaptops.Soyoucouldsay,here'swhatI'mworkingon.Soyousee,yougotto comewithmetothelibraryandI'llshowyouwhatI'mupto Andsohewouldcomein,Iprobablymethiminthelibrary maybehalfadozentimeoverthefiveyearsthatIworkedthere.
IgottoknowDr King IwasattheMarchin1963,wherehedidhisIHaveaDreamspeech TheyfiredmebecauseI attendedthatmarch.Again,Itellthestorytostudentssotheycanunderstandwhatthingswerelikebackinthose days Whenthemarchwasannounced,A PhilipRandolph,myfraternitybrother,wasactuallytheonewhowasputting ittogether Technically,BayardRustinwasactuallyputtingittogether,butthemovement,Ididn'tknowatthetime, becausehewasgay,theydidn'twanthisnameoutfront.
Irequestedthedayoffbutwasrepeatedlydenied Duringlunchtime,IwalkeddownConstitutionAvenuetothe bottom.AndthecrowdswereallthewayinfrontoftheLincolnMemorial.Acoupleofferedmechicken,potatosalad andacooldrink IdeclinedbecauseIhadtogetbacktotheSupremeCourt Theyencouragedmetostay,eat,and listentoDr King’ssoontobedeliveredspeechtothecrowd IstayedandheardDr King’s‘IHaveaDreamSpeech’
AsIreturnedtoworkthenextday,Iwasfiredandtoldtogetmythingsforattendingthemarch Iwasgoingtosay goodbyetoothersinthebuildingwhenJusticeWilliamDouglassnoticedmeadmiringhisarrowheadsinadisplay. Surprisingly,wewerebothBoyScoutsandsharedaninterestinarrowheads.WhenIinformedhimthatIwassaying good-byesbecauseIwasfiredforattendingDr King’smarch,heimmediatelycalleddownstairsandinformedmyboss thatthisisafreecountryandIwillbereturningtoworkforaslongasIwantedtoworkattheSupremeCourt.
Igotexposedtogreatnessearly Imetalotofinfluentialpeople Peopleasked,whyIdidn’ttakepictures? Ididn’t walkaroundwithacamera,becauseIwasmeetingfamouspeopleeveryday.Andifyouworkedinthegovernment, seeingfamouspeoplewasnotthatbigadeal
Youknow,IwishI'dhadacellphonesoIcouldhavetakenthosepictures,butitwasn'tthatbigadeal,andIdidn'thave themeanstodoit
My friends- Thurgood Marshall & Rev. Dr. Martin Luther King, Jr.ImovedtoChicagoanddidquitewellasasalesmanandentrepreneur. Istilldesiredtobecomeateacherand enrolledinChicagoStateUniversity in1974. in1976IgotmydegreeinmarketingfromChicagoState.Thatwasreally mybeginningto; Ididn'tknowwhattherealmoneywasuntilIgotthatdegree Itellpeoplethatdegreeis thenicestof printmoney Asablackman, $7,000ayearwasgoodmoneytomewithout degree OnceIgotmydegree,thebase salarywas$13,000.
Whatadvicewouldyougiveyoungpeopleonfinances/financialplanningorcareerchoice?
Numberone,thinkaboutwhatyouenjoy, notonly whatyou'regoodatdoing Youmaybe goodatthingsthatyou reallydon'twanttobebotheredwith Thinkaboutwhatyou'regoodatbutmostofallwhatyoulike, becauseifyou followthepathofwhatyoulike,you'renevergonnaworkadayinyourlife You'rejustgonnamakemoney,you're gonnabesuccessfulandsofigureoutwhatyouworktowhatyoureallylikeandthenfindouthowthatismarketable. Findoutandlearnasmuchasyoucanaboutfinance
Iknowkidsgetupsetyoudon'twanttolistenwhentheparentswanttositdownandhavethatfinancetalk.Theydon't wanttheparentstohavethatsextalkor financetalk. Parentsarejustjusttryingtokeepyoufromspendingmoneyand havingagoodtime Getasmuchinputasyoucanfromasmanyknowledgeablepeoplethatyoucan Seekoutpeople withbackgroundsininfinanceandbusinessbecausethatwasoneofthethingsthatwewerelacking
Getexposedtoasmuchstuffasyoucan.Iknowwewannadothethingsweenjoy.Iloveourculture,butIfoundout thatit'sveryimportanttoexposeyourselftodifferentculturessoyoudon'tavoidthoseenvironments Yougottolearn howtodealwithpeople,whetheryoulikethemornot Theycouldhelpyoumoveforward Yougottolearnhowto navigateintwodifferentworlds.Ilovethepeoplebackinthehood,butthey’renotinapositiontomovemeforward.I tellfolksallthetime,I'mbilingual.IspeakEbonics,butIalsospeaktheKing'sEnglish.Ican'tgetpaidspeakingEbonics. Mygrandfathertaughtusthatveryearlyon IrealizedthatpartofthereasonwhyIwassosuccessfulwasbecauseIwas ableto,whenImetpeople,putonagoodfront theywerealwaysimpressedbymebecauseIwasnotintimidated I wasnotbothered,eventhoughImaynotbeabletostandtheenvironmentthatIwasinbecauseitwasdistasteful.I dealt,Ismiled, andgotthroughitbecauseitwasgonnahelpmemoveforward.
Somepeoplesay,well,youkindofsoldyoursoul,youturnedyourbackon,Ididn'teverturnmybackonanybody,I didn'teverstoplovingmypeople,neverstoppedhangingwithmypeople,andItellpeopleallthetime,Icouldhang withmypeople, gotoafamilyfunction,speakEbonics,eatribs,friedchicken, andwatermelonallweekendlong,On Mondaymorning, I‘mbackinmysuit,talkingtowhitefolks,andmakingmymoney Sojustavailyourselfofallthe opportunitiestogainknowledgeintermsoffinance,intermsofbusiness,butmostimportantly,exposeyourselftoother cultures.Don'tjuststaywhereyouare.
BoyScoutshadalottodowithmysuccess Isharedabunkwithwhitekidsand gotexposedtothem earlyon Immerseyourselfindifferentculturestomakeyourselfnotonlyamenable,butjustawaresothatwhenyou'reinthose environments,youshine.Yeah,youcanshineinthehood,butwhatisitgonnagetyou? Learntoshineinother cultures Beacceptingofpeople Canyouimaginewhatlifewouldbeifyoudidn’ttry Mexicanfood?Canyouimagine alifewithouttacos,enchiladas, tamales,orburritos? Yourlifewouldbedifferentifyouweren’texposedtothosefoods .That'strueofmanyothercultures,soexposeyourselfandfindtheinformationthatwillhelpyouinyourcareer.
Didyouencourageyourgrandsonstogointobusiness/finance?Kyleisinfinance No Kyleisinfinance WhenIfoundouthewasinterested, Iencouragedit Heinitiallytalkedaboutbeingbeinga lawyerand gotexposedtoalotofdifferentareasatMarianCatholicH.S.I'mnotsurewherethefinancebugreallybit him.Weexposedthemtoallkindsofthings.Hewasgoodwithnumbersandsawthatinvestmentbankingpaidwell. Likemostofmyfamilymembers,he’sgood motherenvironments
Kendall isinbusinesstechnology Healso dtodifferentareasofstudy He’sgood inwithnumbersandcomputerskills. Myg arearegoodnavigatingdifferent environments.
Scoutingandmusichelpedmethroughlife Ijoinedthebandinjuniorhigh Mygrandfatherboughtmeatrumpetand Iplayeditforthefirsttime,Iwasinthedrumbuglecorps.Wedidn'thaveabandyet,soIplayedthetrumpetandI joinedthebuglecorps.FollowingthatwegotabandandIlearnedmusic.Ilearnedhowtoplay.Hewouldn'tevenlet ustouchatrumpetuntilwelearnedhowtoplaythepianobecauseyouwouldhaveallthenotesinthemusicscaleon thepiano Musicandscoutingandmusickeptmeoffthestreets MytwocousinsandIhadtofightalotbecausewhen weputonthoseBoyScoutuniformsguysthought,forsomereason,wehadmorphedintopushovers. Theywouldtry tobeatusup EverytimewegottotheBoyScoutmeeting,weweredirtyandbloodied,butwemadethatmeetingin ouruniforms Finally,theygottiredofbeatingusup.
IfacedadversityattendingAnacostia apredominatelywhite, highschoolbecauseIwantedtobeinatop-notch band Theblackkidshadtofightmostdays Wewerehitwithbricks Wegotjumpedoneveryeverymorningonthe waytoschool. theyneverjumpedusone-on-oneortwo-on-one. Itwasalwaysabunchofthem, sowegaveas goodaswegot Westartedcarryingbricksandsticks; theyendedupgettingasmanybumpsandbruisesaswedid Theyfigureditwasn'tworthjumpingonthesefewguysbecausetherewerelessthanahundredblacksattheschool Successnevercomeswithoutadversity.
Asasalesmanager,Icared thatyousetagoalandpersevereduntilthatgoalwasreached. WhenIwashiringatU.S. Robotics,Ididn'tprettymuchhavetheguywhoplayedquarterbackonthefootballteamandgotoutinfouryearsor thekidwhowenttoMichiganandgraduatedfromfouryearsagobecausehisparentsweredonating
Ihiredalotofguysandoneladywhotook five,six,maybesevenyearstogetthedegreebecausetheyhadtostop,go makesomemoney,comeback,ortheyhadtogotoschoolpart-timelikeIdidbecausetheystuckitout Ididn'tcare aboutthekidwhoseparentspaidforhisdegreebecauseIknewinsalesthatthereweregoingtobesometough times.Iknewsaleswasahardjob.You'vegottobeabletodealwithadversity.Ifyou'veneverhadtodealwith adversity,saleswasnotforyou. MostofthepeopleIhireddidnotcomeoutinfouryears.Butitshowedthattheyhad theperseverance
Thefactthatyougotadegreeshowed thatyousetagoaland stuckitout. Youweresuccessful. Youreachedthat goal That'swhatadegreeisallabout Successnevercomeswithoutadversity.
