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* I’m coming a little late to this story…
The Rev. Leon Finney Jr. spent the last half-century building a real estate empire on Chicago’s South Side while amassing political power and hobnobbing with politicians like Barack Obama, Rahm Emanuel, Richard M. Daley and Toni Preckwinkle.
Now in his twilight years, Finney’s fiefdom teeters on the brink of collapse.
Once revered for his community work, Finney, 81, stands accused of fraud, self-dealing and mismanagement after his nonprofit, the Woodlawn Community Development Corporation, filed for bankruptcy in October and the curtains were pulled back on its finances.
Finney has been ousted at the organization he helped create. And, in a rare step, a federal judge appointed a trustee in April to take control of Woodlawn, a move the nonprofit fought. Piece by piece, its real estate holdings are being sold off.
After the bankruptcy came more financial blows. Woodlawn’s main source of revenue — lucrative contracts to manage more than 4,300 apartments for the Chicago Housing Authority, bringing in about $170,000 a month in management fees — was canceled in June after the CHA accused Woodlawn of mismanagement resulting in nearly $400,000 in damages.
Go read the rest. Classic Chicago.
* Related…
* Parishioners stand with Rev. Leon Finney amid fraud allegations: ‘His heart’s in the right place’ - Days after a judge’s stinging rebuke of the longtime Chicago powerbroker was reported by the Sun-Times, Finney forcibly removed a reporter from Sunday service at his church
* Lori Lightfoot orders review of Rev. Leon Finney Jr.’s ‘significant portfolio’ of CHA buildings: The mayor called the South Side minister ‘an iconic person’ who has ‘done good work over the course of his life’ and said his downfall is ‘clearly disappointing.’
posted by Rich Miller
Tuesday, Sep 10, 19 @ 12:49 pm
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didn’t the entire tollway leadership team just come from CHA? Will the Mayor’s review involve a review of their conduct at their previous job?
Comment by 32nd warder Tuesday, Sep 10, 19 @ 1:04 pm
A true Chicago story.
Comment by Steve Tuesday, Sep 10, 19 @ 1:20 pm
I have witnessed a real estate deal spearheaded by him that was corrupt.
Comment by Southwest Sider Tuesday, Sep 10, 19 @ 1:25 pm
I know this thread is about Finney, but 32nd Warder brought up a good point regarding the leadership team at the CHA now running the Tollway. The Daily Herald mentioned the huge salary increases given by Executive Director Jose Alvarez to his CHA pals. I thought the Tollway bond rating was recently downgraded and that the Tollway had budget issues, yet they added almost $512,000 of additional salary expense? Something is not right here?
Comment by Don Ames Tuesday, Sep 10, 19 @ 2:52 pm
Shockeed I say..Shocked
Comment by Lurker Tuesday, Sep 10, 19 @ 6:29 pm
==In the 1980s, Finney was on the Chicago Housing Authority’s board. When the agency began tearing down high-rises and subcontracting out its services in the 2000s, his nonprofits were some of the first to be given those contracts.=
That is a conflict of interest right there. Our laws allow someone on the board to employ companies he controls? That can’t be right.
Comment by Da Big Bad Wolf Wednesday, Sep 11, 19 @ 7:16 am