[Dialogue] Fw: Reflecting on the Turn/Balloon Note

[LAURELCG at aol.com]

I was assigned to get in-kind donations to build an infant school  in 5th 
City in the fall of 1975. One rationale for expanding the preschool to  
include infants was to appeal to whomever we owed the balloon note that the  
preschool/infant school was a needed asset to the community. The hospital  
parking lot planned for the site couldn't possibly match its value to the  
neighborhood. Our hope was they would extend the payment deadline. I managed  to 
line up 4-hour fire doors and metal cribs. I flew to Ohio to help  with a 
town meeting, rented a truck and drove back to Chicago with tons  of quarry 
tile to upgrade the kitchen floor to meet health department  standards. My 
husband Fred laid the floor. An architect gave  us considerable time on the 
project. The plans required 14 bureaucratic  city stamps for approval. Finally 
one day, he leveled with me. "There is no way  this is going to save the 
property." He was right. The balloon note wasn't paid  and the parking lot was 
built. This is my understanding, but I could definitely  be wrong.
 
I'm enjoying this discussion.
 
Blessings,
Jann McGuire
 
 
 
 
In a message dated 8/4/2011 1:10:31 P.M. Pacific Daylight Time,  
walters at alaweb.com writes:

We must  have paid the balloon note off because we mortgaged the property 
at least  twice whereupon development would be out telling the story that out 
mortgage  was due and we need to raise x amount of funds in x days. Oh 
course,  development centrum stories are the stuff of legends. My favorite story 
is  about the new kid in development was sent to work offices in the Loop. 
He  wasn't having much luck until he went into a foundation office and told 
his  story. He rode the el train home with a check for a few hundred bucks 
from the  Playboy Foundation. Anything for the mission

-David  Walters
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