Protesters: Help Uptown's Homeless, Not Luxury Developers

(CBS) -- Dozens of people hit the streets Monday night near Uptown's "Tent City," where many homeless people live under a viaduct at Lake Shore Drive and Wilson.

The homeless and advocates are angry that Chicago's Community Development Commission has approved a plan to provide nearly $16 million in tax-increment financing for an upscale apartment complex.

Ryne Poelker of North Side Action For Justice says the developer of the proposed apartment building doesn't need help from taxpayers, given that the luxury units will go for a minimum of $2,000 a month.

"This is not something that needs a tax break, this is not something that needs TIF subsidies," Poelker says.

Uptown resident Daisy Moore says: "There used to be a lot of resources and a lot of places where homeless people could go up here, and now that no longer exists. And people are in dire need of help."

Protesters blame 46th Ward Ald. James Cappelman, saying he should be doing more for the homeless, not developers. WBBM has reached out to the alderman for comment.