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Kansas City approves millions in funding for affordable housing redevelopment project

Kansas City approves millions in funding for affordable housing redevelopment project

Yahoo08-03-2025

Kansas City dollars will close a funding gap to kickstart redevelopment of Parade Park Homes, the historically Black-owned former housing cooperative on the east side with over 1,000 new units of housing with a focus on affordability.
The City Council approved a funding package on Thursday from multiple sources for the first phase of the project, which will add 480 units of housing, including:
A $12 million loan from the Housing Trust Fund for affordable housing that will be paid back over six years, replenishing the fund. The fund currently has about $20 million in the bank.
$2 million from city funds for demolition of dangerous buildings.
Directing the city manager to find financing with an estimated present value of $3.9 million.
Supporting an application for $5 million to the Central City Economic Development board, which would have to approve the application separately.
Gavriel Schreiber, general counsel for the mayor's office, told officials earlier this week that the funding represents the City Council 'walking the walk' with an investment in areas of the city that deserve it with safe, dignified housing that everyone in the city deserves.
'This is a crown jewel of Kansas City — of Kansas City's east side, and historic parts of Kansas City that have historically been under-invested in and underrepresented,' he said.
Construction could begin in the summer. The first phase of the $300 million project will include a mix of apartments, flats and townhomes in various sizes at more affordable levels.
Forty-two of the units will be for residents making up to 30% of the area median income; 48 units will be for residents making up to 50% of the median income; 150 units will be for residents making up to 60% of the median income; while the remaining 240 will be for residents making between 60 and 80% of the median income.
According to the U.S. Department of Housing and Urban Development, 50% median income would be $51,550 for a family of four.
Plans have been in the works for years to redevelop Parade Park Homes, one of the country's oldest Black-owned housing co-ops until 2022. The complex, in the 18th and Vine Jazz District, faced high vacancy rates and poor conditions in some units in recent years, and community leaders have pushed to find a way forward.
Flaherty & Collins Properties and Twelfth Street Heritage Development Corp. took ownership of the site last spring, and the city approved plans in the fall. Current residences will be demolished and replaced with mixed-use commercial space, new amenities and a mix of housing units at various price points, including market-rate units, affordable units and senior housing.
There were 164 households in Parade Park when ownership changed and relocation is underway. The 510 existing townhomes will be demolished, and the three-phase redevelopment project includes protections for tenants from displacement and rights to return to the new units with priority.
Mayor Quinton Lucas said in a statement that the funding 'ensures Kansas City will continue to honor Parade Park's legacy while also creating modern, affordable housing that keeps this community intact and thriving.'
'Parade Park Homes represents both Kansas City's heritage and our future, and I am proud and honored to be the mayor privileged to ensure this historically Black neighborhood will be strong for generations to come,' Lucas said.
Officials announced earlier this year that the Parade Park project received $15.5 million from the federal government from a senior housing grant.
Developers sought funding from the Missouri Housing Development Commission this year but did not receive it.

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SEC scrubbed guidance on DEI in asset manager selection from website
SEC scrubbed guidance on DEI in asset manager selection from website

Yahoo

time22 minutes ago

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SEC scrubbed guidance on DEI in asset manager selection from website

The Securities and Exchange Commission has purged guidance from its website regarding fund manager diversity, but it was hard to find even before President Donald Trump's second term. That pullback from promoting diversity, equity and inclusion in asset management comes as part of the Trump administration's executive orders targeting "DEI" programs. And it underscores the confusing current state of federal efforts to ensure that more women- and minority-owned fund firms get a fair shot at doing business with large government pensions and retirement plans. For advocates, such programs open doors to capital and to rewarding careers as financial advisors or wealth and asset management professionals and, in some cases, the enforcement of crucial civil rights laws. To Trump's supporters, DEI has expanded access for some at the expense of others, to the point that consideration of factors involving race, gender and other identities has turned more important than merit in, say, hiring or the awarding of contracts. The SEC has removed an October 2022 "frequently asked questions" memo explaining how the fiduciary duty applies to the use of DEI criteria in the selection of asset managers, according to a recent study by the U.S. Government Accountability Office, an independent watchdog agency that reports to Congress. The SEC issued the FAQ during President Joe Biden's administration, at which time critics questioned its importance and obscure previous location on the agency's website. Now, with so many aspects related to DEI in administrative or legal limbo, the way forward after small but notable progress in opportunities for women and minority financial professionals looks anything but clear. 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La Luna's Little Sibling Debuts This Weekend in Logan Square
La Luna's Little Sibling Debuts This Weekend in Logan Square

Eater

time23 minutes ago

  • Eater

La Luna's Little Sibling Debuts This Weekend in Logan Square

After six years in Pilsen, Samantha Sanchez wants more. Sanchez and sister Corina are about to open their second restaurant, La Lunita, in Logan Square. Think of it as the name suggests — it's La Luna's little sibling. The new restaurant will bring over favorites from Pilsen with a few notable changes to the menu. Opening date should be Saturday, June 14 at 2539 N. Milwaukee Avenue. While the Pilsen location uses tortillas from El Milagro, a beloved local manufacturer, La Lunita will serve tacos wrapped in corn tortillas made on premises. The menu from chef Marco Colin will focus more on platters and entrees. Look for chicken mole and more steak dishes. There's also a grilled and smoked octopus. Colin will make use of a wood-burning grill. Sanchez is excited about serving wines from Mexico, something she didn't have access to until recently: 'I'm taking the time to carefully select the spirits I want to bring in and embrace,' she says. 'You know, certain small businesses, certain local and Latin-owned wineries.' The Pilsen restaurant opened six years ago and has seen changes along 18th Street. The small and narrow restaurant and bar has brought a new energy to the area, and Sanchez hopes that translates in Logan Square. Designwise, there's no patio, but a garage door-style window in the front swings out to improve circulation. The space also utilizes the signature flower tile from the Pilsen location. There's about 80 seats inside with room for 20 at the bar. La Lunita's drink menu intrigues as every beverage can be made non-alcoholic. It's cost effective and also gives those who are avoiding booze more choices. Sanchez didn't want to treat those customers like a vegetarian in the '80s, with menus usually featuring a single sad pasta or salad. 'I didn't like giving them a B.S. cocktail,' Sanchez says. 'I wanted them to feel like they could still order off the menu exactly like what everybody else is ordering.' Sanchez feels more poised in opening her second restaurant. She's found her own niche and is contributing to causes like Let's Talk Womxn, and breaking out from her father's shadow. Sam Sanchez was the founder of Wrigleyville mainstay John Barleycorn. He's been very vocal in his political beliefs as of lat, as ICE protests and raids dominate the headlines. Samantha Sanchez is thankful for her family's support, but wants to establish her own identity and a new company called Culture Hospitality. She wants to open more restaurants in other parts of Chicago. With La Luna and La Lunita, she found that Pilsen and Logan Square share similar qualities. 'I felt that everybody knew each other and was a neighbor — everybody wanted to connect,' she says. 'I feel that same energy.' Check out photos of the food, drink, and space below. La Lunita , 2539 N. Milwaukee Avenue , opening on Saturday, June 14; opening hours will be 4 p.m. to midnight on Tuesday through Thursday; 3 p.m. to 1 a.m. on Friday; 2 p.m. to 10 p.m. on Saturday and Sunday See More: Chicago Restaurant News Eater Inside

France Moves to Curb ‘Ultra-fast' Fashion With Bill Targeting Shein and Temu
France Moves to Curb ‘Ultra-fast' Fashion With Bill Targeting Shein and Temu

Yahoo

timean hour ago

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France Moves to Curb ‘Ultra-fast' Fashion With Bill Targeting Shein and Temu

PARIS — As major brands scale back their sustainability initiatives, France is pressing ahead with legislation aimed at reining in 'ultra-fast fashion' platforms such as Shein and Temu, known for their extremely low-cost clothing. The bill, introduced by Anne-Cécile Violland, a member of parliament from the Horizons party, passed the Senate one year after clearing the lower house of the French Assembly. More from WWD Inditex Sales Slow as Economic Headwinds Hit the High Street Rebag Expands Access to Pre-loved Luxury Goods With New Amazon Collaboration Designer Vincent Van Duysen Opens Antwerp Home for Zara Home+ 4th Collection The unusually long gap between votes led to some watering down of the original provisions, exempting traditional fast-fashion players such as H&M, Primark, and Inditex-owned Zara. 'It's a relief that it moved forward, but there has been a shift in the goal of the legislation that it is now specifically targeting what is called 'ultra-fast fashion,'' said Pierre Condamine, spokesperson for the Anti Fast Fashion Coalition, an umbrella group of 11 environmental organizations in France. Earlier drafts had adopted a broader definition of fast fashion that included Europe-based brands. 'There is sort of a shift in what was supposed to be an environmental legislation, with the objective to shift the whole sector towards sustainable practices, while now it's sort of becoming a protectionist text,' he told WWD. The revised bill targets ultra-fast fashion directly, proposing a tax on small parcels shipped from outside the EU ranging from 2 to 4 euros per package. The fee is intended to slow the influx of packages from Chinese platforms to France, in a move reminiscent of the U.S. ending its de minimis exemption. Shein and Temu together shipped 800 million packages to France in 2024 — more than half of all parcels sent to the country. The French government will first notify the European Commission, as several measures, including a total advertising ban on ultra-fast-fashion platforms, require approval at the EU level. This process could take up to three months before the bill goes to the Assembly and Senate joint committee for resolution, likely in the fall in late September or October. Several key provisions may face scrutiny in Brussels, including the parcel fee, which could conflict with the European Commission's plan for a bloc-wide fee by 2028, and the proposed national advertising ban. Although Shein is registered in Singapore, its European headquarters in Ireland could present a legal loophole. As it stands, the bill mandates eco-contributions from fashion companies based on a 'bonus-malus' system — rewarding sustainable practices and penalizing environmental harm. Penalties could rise to 10 euros per item by 2030, though the methodology for valuing items has yet to be defined. The bill would also eliminate tax advantages for 'donating' unsold stock by ultra-fast-fashion brands, which are not permitted to destroy unsold items under an anti-waste law passed in 2020. A critical element of the bill is its specific definition of 'ultra-fast' or 'ultra-express' fashion. This distinction leaves out more traditional fast-fashion companies that have a retail presence like H&M, Primark and Zara. By differentiating between ultra-fast platforms and fast-fashion brands with physical retail locations, the legislation potentially creates a loophole for companies headquartered in Europe — Sweden, Ireland and Spain respectively — even though their production relies heavily on low-wage countries like China, India and Bangladesh via subcontractors and diffuse supply chains. The original bill passed by the Assembly featured the broader definition, but companies lobbied intensively over the past year for the narrower language, arguing that they contribute to local employment. Senator Sylvie Valente Le Hir of Les Républicains, who ushered the bill through the Senate, highlighted its targeted approach: 'We have drawn a clear line between those we want to regulate — ultra-express fashion — and those we want to preserve, accessible but rooted fashion, which employs in France, which structures our territories, which creates links and supports a local economic fabric,' she said. The industry group La Fédération Française du Prêt à Porter Féminin praised the bill as a 'step forward' in tackling ultra-fast fashion. 'It formalizes the long-standing collective commitment of many stakeholders to defend a fashion industry that respects workers, consumers, citizens, French businesses, and the planet,' the organization said in a statement. However, Condamine noted that while large global fast-fashion retailers remain profitable – Zara's parent company Inditex reported sales were up 4.2 percent in constant-currency in the first quarter on Wednesday — French high street brands like Camaieu and NafNaf have entered administration, and independent stores continue to shutter. 'The economic crisis in the clothing industry in France, it started way before Shein,' Condamine said. 'It started when fast fashion — Zara, H&M, Primark — arrived. Now they are saying if they're targeted, it will be a catastrophe [for jobs]. But they're doing great economically, and they're part of the problem.' Some lawmakers described the bill as a 'strong first signal' and indicated that fast fashion as a whole — including the European players with physical presence — could face future regulation due to unsustainable business practices. On the other hand, critics — chiefly Shein — have said the legislation punishes cost-conscious consumers and lower-income households. The company, which markets itself under the slogan 'Fashion is a right, not a privilege,' has staged events in French cities like Béziers. On Sunday, its director of government relations, Fabrice Layer, held a presentation in front of the southeastern town's city hall to rally public support for the company. 'We ultimately find ourselves with a law that is not only anti-Shein, but anti-Shein customer,' Quentin Ruffat, Shein's spokesperson in France, told AFP. 'This law, if passed, will directly penalize our customers' wallets and drastically reduce their purchasing power.' The company has also accused France's fashion establishment of protecting legacy brands and says it will continue lobbying to amend the bill further. Shein representatives did not respond to requests for comment. New research from l'Institut Français de la Mode (IFM) shows that in the first quarter of 2025, Amazon, Shein and Temu together accounted for 24 percent of online apparel sales by value, representing 7 percent of total apparel consumption across all channels. Online sales made up 29.4 percent of apparel purchases by value, including the online stores of traditional retailers. Best of WWD Walmart Calls California Waste Dumping Lawsuit 'Unjustified' Year in Review: Sustainability's Biggest Controversies of 2021 Year in Review: Sustainability's New Strides

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