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December 17, 201 5 • $1 .0 0
DAILY CHRONICLE
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Officials scrutinize Shodeen plan Parking, commercial space in proposed Marriott hotel, apartments up for debate By BRITTANY KEEPERMAN bkeeperman@shawmedia.com
“We don’t believe there is a product such as this in the DeKalb area. It’s our intent to be the most expensive rental housing in DeKalb and to provide the highest number of amenities.”
DeKALB – The fully furnished, high-end apartments proposed for Shodeen’s site on Lincoln Highway would be aimed at young professionals and students looking Dave Patzelt for luxury spaces, officials said Shodeen president Wednesday. “We don’t believe there is a product such as this in the DeKalb area,” Shodeen President Dave ing in DeKalb and to provide the Commission heard Geneva-based Shodeen’s proposal at its meeting Patzelt said. “It’s our intent to be highest number of amenities.” the most expensive rental housDeKalb’s Planning and Zoning Wednesday.
The developer wants to put a 128-room, four-story Marriott hotel and a 187-unit, five-story apartment complex on Lincoln Highway, west of DeKalb’s downtown area, in the city’s central area tax increment financing district. Commissioners debated parking spaces and whether the property should have open commercial space on its first floor, which currently isn’t in the plan. Shodeen proposes 464 parking spaces, whereas city code would normally call for 686. Apartment
residents would be required to pay for the right to park in the lot, which could partly be shared with hotel guests, Patzelt said. He added that many young people and students are more driven to use ride-sharing companies such as Uber and Lyft as opposed to owning cars. But city officials were skeptical of whether the plan was practical. “We are in an area where we
See SHODEEN, page A8
On the Web To see video from the meeting, visit Daily-Chronicle. com.
Minimal damage expected with hike
DeKALB COUNTY SHERIFF’S CHIEF DEPUTY TO RETIRE
Fed rate increase only one factor in borrowing costs By CHRISTOPHER S. RUGABER The Associated Press
Danielle Guerra – dguerra@shawmedia.com
DeKalb County Sheriff’s Chief Deputy Gary Dumdie laughs Tuesday with his replacement, Lt. Andy Sullivan, at outgoing Kishwaukee College President Tom Choice’s farewell in Malta. Dumdie’s last day is Friday.
LEAVING HIS LEGACY
Gary Dumdie steps away after 33 years
Voice your opinion What’s the longest you’ve worked for the same employer? Vote online at Daily-Chronicle.com.
By KATIE SMITH ksmith@shawmedia.com
D
eKALB – DeKalb County Sheriff’s Chief Deputy Gary Dumdie will end his 33-year career at the department and a lifetime spent in the DeKalb area Friday to head for the action-packed Colorado retirement that lies ahead of him. Dumdie, 54, plans to join his wife, Anna Dumdie, in Colorado, while Sheriff’s Lt. Andy Sullivan takes his place as chief deputy. “It’s been a pleasure serving with the community,” Dumdie said. “I’ve had a very good career. I’ve worked for very good people.” In the past 33 years, Dumdie has demonstrated the carefulness and professionalism a community expects from a law enforcement officer, DeKalb County Sheriff Roger Scott said.
for the dogs to retire. Dumdie, a K-9 handler for the sheriff’s office for 24 years, said the specially trained dogs helped to uncover things an officer wouldn’t be able to find on his or her own. “Being a K-9 handler was so much fun,” Dumdie said. “You had a partner all time – and a good one at that.” Dumdie remembered a call about an elderly man from Sandwich Daily Chronicle file photo who had wandered away from a DeKalb County K-9 Oden apprehends DeKalb County Sheriff’s Chief Deputy Gary home care center early one autumn Dumdie during a National Night Out demonstration Aug. 4, as DeKalb County morning. The chilly weather made Sheriff’s Deputy Jason Johnson follows at the Target parking lot in DeKalb. every moment critical during the search, and police needed the help of “I think his strongest qualities right.” one of Dumdie’s favorite partners – a are his diligence and he has a signifOf all the cases Dumdie has German Shepherd named Duke. icant quality of integrity, which is investigated, his favorites seem to “It was a cool fall night. I rememkey to success in law enforcement,” be the ones he worked alongside ber the corn had all turned brown by Scott said. “He’s always had the one of his four K-9 officers, which he courage to stand up for what is often kept as pets when it came time See DUMDIE, page A6
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Generational
Tough competitor Coat drive
New “Star Wars” film appeals to old, new fans of franchise / C1
Sycamore’s Nick Niemann named Defensive Football Player of the Year / B1
DeKalb firefighters, teachers provide kids with winter gear / A3
WASHINGTON – For anyone considering whether to buy a home or car, the Federal Reserve’s interest rate increase Wednesday shouldn’t make much difference. The rates that most people pay for mortgages, auto loans or college tuition aren’t expected to jump anytime soon. The Fed’s benchmark interest rate has limited influence on those things. Still, the Fed’s move to lift its key rate by a quarter-percentage point will raise short-term borrowing costs for banks. And that, in turn, is intended to prod banks to boost certain other rates. Rates on credit cards and home equity loans and credit lines, for example, will most likely rise, although probably only slightly. The rate the Fed controls is only one factor among many that can influence longer-term borrowing costs. And the Fed made clear it will assess the economy’s health before raising rates further. “Loans that are linked to longer-term interest rates are unlikely to move very much,” Fed Chair Janet Yellen said at a news conference. “Credit card rates ... might move up slightly. But remember, we have very low rates, and we’ve made a very small move.” Mortgage rates tend to move in sync with the yield on 10year Treasury notes. When inflation remains as low as it is now, Treasury notes, with their modest returns, are considered a safe and decent investment. And heavy purchases of Treasurys by U.S. and foreign investors – and by many foreign governments, such as China – help keep those yields low. “The demand for Treasurys has mushroomed,” said Carl Tannenbaum, chief economist at Northern Trust. “What that means is that for any given monetary policy, interest rates are still going to be lower than
See INTEREST RATE, page A6
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