Civic Federation President Joseph Ferguson called the complicated proposal to phase out the city’s decades-long reliance on tax increment financing districts, known as TIFs, “sensible” and “responsible.”
Development
While the team hasn’t yet released plans, Bears president Kevin Warren stated they would commit over $2 billion to transform the Museum Campus and revamp the surrounding infrastructure — all of which Warren hopes could begin as soon as this year.
The mayor has touted the proposal as a fulfillment of a promise he made during the 2023 campaign to make Chicago a more equitable place to live by “investing in people” and expanding the city’s economic capacity — without raising taxes on Chicago property owners.
The proposal, now in the hands of the Chicago City Council, would phase out the city’s decades-long reliance on tax-increment financing districts and reshape the way Chicago uses its financial resources to spur redevelopment and eradicate blight.
The White Sox have played in Bridgeport for more than a century, but owner Jerry Reinsdorf and developer Related Midwest proposed building a new stadium in the South Loop as an anchor to a 62-acre site dubbed The 78.
In the renderings released Thursday night by developer Related Midwest, the new ballpark is pictured along with surrounding new buildings.
Demolishing the record set in each of the past three years, $1.3 billion poured into the city’s 127 TIF funds in 2022, according to a report from Cook County Clerk Karen Yarbrough.
Chicagoans and tourists feeling lucky can play 800 slot games and 56 table games in the century-old Shriner’s temple at 600 N. Wabash Ave., with its distinctive domed ceilings and stained-glass windows.
Renovations are underway at the Garfield Park Community Plaza to create more play areas for kids, a stage, a covered roller rink and a sculpture designed by young people from the community.
Public transit and amenities like theaters, parks, libraries and grocery stores make neighborhoods more livable and appealing. But do they actually make them safer?
Neighborhood development and transit options are one way to make neighborhoods more livable, local advocates say. That’s why a coalition of organizations, artists, authors and developers are all working to advance the goal of equitable transit-oriented development.
It is not clear exactly when Bally’s will be able to open a temporary casino in the century-old Shriner’s temple at 600 N. Wabash Ave., with its distinctive domed ceilings and stained-glass windows. A Chicago landmark since 2001, the temple was most recently home to a Bloomingdale’s furniture store.
Hundreds of acres of vacant land in Sugar Grove has a developer looking to build housing, civic space, retail – and distribution warehouses. Some residents are uneasy the project would change the village’s small town feel.
Mayoral candidate Paul Vallas’ plan to reverse decades of disinvestment on the South and West sides of Chicago focuses on the creation of an independent community development authority that would limit tChicago City Council members’ control of zoning in their wards.
The historic LaSalle Street corridor has been an economic engine for the city since the turn of the last century. But in recent years, the once vibrant financial district has suffered as major banks that anchored the area moved elsewhere in the city.
Demolishing the record set in each of the past two years, $1.22 billion poured into the city’s 129 TIF funds in 2021, according to a report from the office of the Cook County Clerk.
