TIF Support Proposed for Restoration of Uptown Music Venue

Sep 18, 2024 · The Double Door music club would finalize the restoration and reopening of Uptown’s historic Wilson Theater through $5 million in Tax Increment Financing (TIF) …

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TIF Support Proposed For Restoration Of Uptown Music Venue

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Sep 18, 2024 · The Double Door music club would finalize the restoration and reopening of Uptown’s historic Wilson Theater through $5 million in Tax Increment Financing (TIF) …

chicago.gov

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$5 Million In TIF Approved For Double Door Theater | BLDUP

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Jul 23, 2024 · The Chicago City Council has approved $5 million in TIF funding to restore the historic Wilson Theater building in Uptown. Plans include an adaptive reuse of the space to …

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Uptown Update: 2024

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Oct 24, 2024 · "CDC [Community Development Commission] approved up to $5 million in TIF assistance for Double Door Liquors 2.5 LLC's planned restoration of the former Wilson …

uptownupdate.com

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Massive LaSalle Street Renovation Gets $98 Million In TIF Funds

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The largest project so far in the LaSalle Street Reimagined program inched closer to reality Tuesday when the Community Development Commission recommended that the City Council …

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City Council Approves $5 Million In TIF For Double Door Theater At …

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Oct 24, 2024 · The Chicago City Council has approved $5 million in TIF funding for the Double Door Theater redevelopment at 1050 W. Wilson. Built in 1909 in the Classical Revival style, …

urbanize.city

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Massive LaSalle Street Redevelopment Set For $98 Million TIF Subsidy

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Nov 7, 2024 · A joint venture of three prominent real estate firms is set to go before the city's Community Development Commission next week seeking approval for the tax-increment …

chicagobusiness.com

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Chicago Bond To Be Paid For With TIF - The Real Deal

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May 1, 2024 · Public-private investments in the Western Avenue TIF district totaled $135 million, city records show. Over the same period, the South Chicago TIF district generated just $1.5 …

therealdeal.com

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City Council Approves TIF Funding For The Ave | Urbanize Chicago

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Oct 17, 2024 · The Chicago City Council has approved $18.25 million in TIF financing for The Ave. Chosen as the winner of the Chicago Ave Invest South/West RFP site back at the end of …

urbanize.city

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Loop Office-to-residential Conversion On Track For TIF Funds

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Oct 2, 2024 · The city is committing $163 million to four projects that will convert empty Loop office space into 1,100 residences. A project at 79 W. Monroe will likely be the first to get …

chicagobusiness.com

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Commission Approves $98 Million In TIF Funds For LaSalle St. Project

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3 days ago · That would unlock $98 million in tax increment financing funds for redevelopment of the landmark Field Building, a 44-story tower at 135 S. LaSalle St. in the Central Loop.

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TIF Funding Approved For School Improvement Projects - City Of …

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Sep 13, 2023 · Uplift Community High School, at 900 W. Wilson Ave. in Uptown, will receive $910,000 from the Wilson Yard TIF district for central plaza upgrades. TIF will pay the cost of …

chicago.gov

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Council Approves $25M Chicago-Main TIF District - Patch

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Jan 29, 2013 · Evanston aldermen approved a new tax-increment financing district that runs along Chicago Avenue from Dempster to Oakton streets by a 7-2 vote Monday night. Jennifer Fisher …

patch.com

FAQs about TIF Support Proposed for Restoration of Uptown Music Venue Coupon?

Will TIF pay for 900 W Wilson Avenue?

TIF will pay the cost of the entire project. Uplift Community High School, at 900 W. Wilson Ave. in Uptown, will receive $910,000 from the Wilson Yard TIF district for central plaza upgrades. TIF will pay the cost of the entire project. ...

Who pays the cost of a TIF project?

TIF will pay the cost of the entire project. Chicago’s TIF program allocates property tax growth within designated TIF districts for public improvement projects, affordable housing, economic development, and other local goals. ...

How will the mayor use TIFs?

Despite the debate, TIFs will continue to be used to fuel development and make structural improvements for the city and CPS. The public will find out how the mayor intends to use them when he reveals his budget plan at the end of the month. ...

How many TIF districts are there in Chicago?

Across Chicago, there are 124 TIF districts that are used to primarily spur development, like what can be seen in places like Fulton Market. When a TIF district is established, the property tax revenue for government agencies is capped at the current level. As property values go up, any additional tax dollars go into a separate surplus fund. ...

What is Tax Increment Financing (TIF)?

Tax Increment Financing (TIF) is a special funding tool used by the City of Chicago to promote public and private investment across the city. Funds are used to build and repair roads and infrastructure, clean polluted land and put vacant properties back to productive use, usually in conjunction with private development projects. ...

Should the mayor tap TIFs to help CPS?

With additional state money questionable, the mayor may have to tap TIFs to help CPS. According to Tresser, whose organization carefully tracks those funds, the money is there. "At the end of 2023 there was $3 billion sitting in the TIF funds," Tresser said. "Over half of that should have gone in the CPS." ...