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Rezoning project gets 1st approval DeKalb council to hold University Village plan’s second reading Sept. 14 By BRITTANY KEEPERMAN bkeeperman@shawmedia.com DeKALB – The City Council gave preliminary approval to rezone University Village Monday after a lengthy discussion among council members and the public. The rezoning passed at first reading, with a 4-3 vote. First Ward Alderman David Jacobson, 4th Ward Alderman Bob Snow and 6th Ward Alderman Dave Baker voted no on the request with 3rd Ward Al-
derman Michael Marquardt, 5th Ward Alderwoman Kate Noreiko and 2nd Ward Alderman Bill Finucane in favor of it. Seventh Ward Alderwoman Monica O’Leary was absent. Mayor John Rey broke the tie with a vote in favor of rezoning the property, which will allow Security Properties to receive funding for the proposed redevelopment project. The matter will come back to council for a second reading Sept. 14. Security Properties, a Seat-
tle-based developer, has proposed investing $21 million into the the redevelopment. University Village is DeKalb’s largest housing complex and the majority of units are Section 8 (low-income housing). As a part of the new agreement, the remaining 13 percent will be workforce housing, Security Property representatives said Monday. Finucane said he thought the proposed improvements were the best option given the circumstances.
“All of us agree that University Village has deteriorated,” he said. “The blame falls to current ownership.” He added that under the new development agreement, the city would have better opportunity to be involved with the property. In May, DeKalb’s Planning and Zoning commission recommended the city deny the request. Seven variances including things such as lighting, signage and parting ratios necessitated rezoning, but the
Stocks slump; Dow ends down 588 after early 1,000-pt. slide
most discussed issue has been that of net density. The 534-unit property sits on 32.3 acres of land, bringing its density to 18 units-peracre. Local ordinances limit new development to 12 unitsper-acre. The rezoning would allow the developer to rebuild the property as it sits now in the event of catastrophic loss where more than 50 percent of the complex is destroyed. The rezoning is necessary for Security Properties to receive funding. In part, they
plan to pay for the project with low-income housing tax credits. Snow said that he thought the agreement was a good one, but that he thought it was ultimately better for the developer than it was for the city. Noreiko said what was good for the developer would be good for the tenants, which would be in the city’s best interest. “While the agreement isn’t perfect,” she said. “As a whole,
See REZONING, page A5
FIRST DAY OF CLASS
By ALEX VEIGA and STEVE ROTHWELL The Associated Press U.S. stocks slid again Monday, with the Dow Jones industrial average briefly plunging more than 1,000 points in a sell-off that sent a shiver of fear from Wall Street to Main Street. Stocks regained some of that ground as the day wore on, but the Dow finished with a loss of 588 points, the eighth-worst single-day point decline and the second straight fall of more than 500. The slump – part of a global wave of selling touched off by signs of a slowdown in China, the world’s second-largest economy – triggered worries among Wall Street professionals and ordinary Americans who are saving for retirement or a down payment on a house. With the lease on her car up, health insurance worker Deirdre Ralph of Wayne, New Jersey, had planned to get a less pricey vehicle and invest the savings. Now she’s having doubts. “That money, I wanted to take and put it toward my retirement,” said Ralph, 61. “Should I? Or should I just have a great old time?” The Dow ended up losing 588.40 points, or 3.6 percent, closing at 15,871.35. As scary as the sell-off was, the Dow’s decline doesn’t even make the list of the Top 10 biggest drops in percentage terms. The Standard & Poor’s 500 index slid 77.68 points, or 3.9 percent, to 1,893.21, and is now in “correction” territory, Wall Street jargon for a
See STOCK MARKET, page A5
Mary Beth Nolan – mnolan@shawmedia.com
”Allen,” a wood inlay sculpture by artist Michael Ferris, Jr. appears to be watching passers-by Monday during the first day of classes at Kishwaukee College.
New semester underway Kish College official: Improving job market partly to blame for lower enrollment By ADAM POULISSE apoulisse@shawmedia.com
AP photo
People watch trading boards Monday at a private stock market gallery in Kuala Lumpur, Malaysia. Stocks tumbled across Asia on Monday as investors shaken by the sell-off last week on Wall Street unloaded shares in practically every sector.
MALTA – It’s her second year at Kishwaukee College, and Shirin Khamissi has learned the ropes. “So far, so good,” Khamissi said on her first day of class at the community college on Monday. “I know where everything [is]. Nothing new, teachers are familiar.” The parking lot was filled with cars and the hallways and cafeteria bustled with students as they
made the rounds of their first day of class Monday. On Wednesday, campus will buzz with a different kind of energy: the Kougar Kick-Off will be from 10 a.m. to 1 p.m in the Student Center courtyard and include free food, music and plenty of opportunities for students to mingle and learn more about their school. The flurry of activity at the start of the new school year aside, there are fewer students at the college this fall than there were at this time last year.
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sacrifice their job to come back to school because they have a way to make money,” Harris said. In DeKalb County, the employment rate dipped from 6.4 percent in June 2014 to 5 percent this summer, according to the Illinois Department of Employment Security. Traditionally, Kishwaukee College has more than 6,800 students enrolled annually throughout the
See KISHWAUKEE, page A5
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As of Friday, credit hours taken this fall are 9 percent below last year, and the head count is down 10.5 percent, according to Sedgwick Harris, vice president of Student Services at Kishwaukee College. The college has 3,231 students registered to take 33,289 credit hours this semester, Harris said. He said the numbers can be attributed to the slowly stabilizing economy and job market. “What you find is when people find jobs, they’re not going to
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