TUESDAY • FEBRUARY 25, 2014
CHICAGOMAROON.COM
THE INDEPENDENT STUDENT NEWSPAPER OF THE UNIVERSITY OF CHICAGO SINCE 1892
ISSUE 30 • VOLUME 125
Univ. joins Common App alternative Rachel Landes Maroon Contributor Students applying to the University of Chicago next fall will be able to submit the Universal College Application (UCA), an emerging rival to the Common Application. UChicago, which has been a Common App member since
First-year Diego Loyo (left) and third-year Esteban Valencia inform students in Bartlett Quad on Monday night about the current violence against peaceful protesters in Venezuela. FRANK YAN | THE CHICAGO MAROON
MAC Property, Univ. honored by Hyde Park Historical Society The Hyde Park Historical Society (HPHS) held its annual awards dinner on Saturday at the Quadrangle Club, celebrating the preservation of two historic Hyde Park landmarks: the Harper The-
ater and the Shoreland Hotel. The Marian and Leon Despres Preservation Awards have been awarded each year since their establishment in 2005. They are presented to two organizations or persons that have championed the preservation or restoration of old Hyde Park buildings. Nomina-
tions are accepted from the community and are approved by the board members of the society, according to Kathy Huff, a member of the HPHS board. The first award was presented to MAC Property Management for the redevelopment of the HISTORY continued on page 2
SSA continued on page 2
Coffee shop Sip and Savor joins a growing number of Hyde Park small businesses that are turning to crowdfunding to raise capital. Owner Trez Pugh III has launched a campaign with startup LendSquare to raise $25,000 in loans directly from community investors by March 1. Pugh, who operates a location at East 51st Street and Lake Shore Drive and another at East 53rd Street and South Hyde Park Boulevard, has plans for a multi-pronged expansion, ranging from building a sidewalk café, adding an espresso machine, and reopening his coffee shop in Bronzeville. Sebastian Villarreal (A.B. ’09) co-founded LendSquare with Jose Valdes in 2012 to help small businesses like Sip and Savor expand with help from the community. Businesses post their campaign goal, which can be up to $300,000, and the time period during which their campaign will run on the website. Customers can then pledge a loan amount and select at what interest rate
they are willing to lend the money. At the end of the campaign, the highest return at which the business achieves its goal is selected and the loans of investors who bid at that rate or lower are approved. The investments will be paid back at the selected interest rate on a monthly basis over a fixed time period. Z&H Café, Open Produce, and the Fair Trader were the first businesses to use LendSquare, while it was in its prototype phase. “LendSquare allows customers to invest in something they believe in and think will be beneficial to the community, especially if you’re already investing by coming in and buying my product. I think it’s a win-win,” Pugh said. Pugh anticipates the addition of the sidewalk café will attract more business. “It will be good for the dog lovers. Usually they have to tie up their dogs and run in and grab a coffee. With an outdoor patio, they can just sit down and someone will come and take their order.” Pugh entered the coffee shop business “almost by mistake.” He LOANS continued on page 2
Bridge Club qualifies for national championship Harper
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Sara Cao News Staff
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A new designation by the city will lead to additional city services for Hyde Park residents. The City of Chicago approved the establishment of Special Service Area (SSA) Number 61 in a meeting in November and in January, and approved the appointments of nine committee members who will oversee the SSA’s operations. Dave Cocagne, President and CEO of Vermillion Development, the developer of Harper Court, said, “An SSA is generally geared towards supporting services like street cleaning, marketing and promotion, security, flower planters, and extra snow shoveling.” The SSA designation will pro-
Woodlawn
Hyde Park areas to acquire more City services with new designation William Rhee News Staff
APP continued on page 2
Local businesses turn to community loans to grow
Students raise awareness of political struggle in Venezuela
Alec Goodwin Maroon Contributor
2008, joins 43 other colleges that accept the UCA, including Duke, Harvard, and Johns Hopkins. The announcement follows a 9.5 percent decrease in the number of applicants. During this past application cycle, the Office of College Admissions read through 27,499 applications, nearly 3,000 fewer than last year.
Using funds provided by taxes levied predominantly on businesses, the designation of the red-outlined area as an SSA will lead to additional services from the City of Chicago.
Carissa Eclarin Maroon Contributor The Bridge Club laid all its cards on the table, qualifying for a spot at the 2014 North American Bridge Championships. Second-year Julian ManasseBoetani, third-year Bob Chen, second-year Kelly Mao, and thirdyear Ruth Ng competed on Febru-
ary 15 in the American Contract Bridge League’s (ACBL) annual Collegiate Championship Qualifiers and qualified for the Summer 2014 North American Bridge Championships. The ACBL, the largest governing organization of Tournament Bridge in North America, will host the team to compete for scholarship money in BRIDGE continued on page 2
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