ChicagoTalks, a sister site of AustinTalks, published stories earlier this week about the city’s controversial tax-increment financing program. A team of Columbia College Chicago journalists also created a searchable map showing where 171 of the private-sector TIF projects approved since 2000 are located.
More than half are located in the central Chicago core, far from the West and South Sides, where some critics say this economic development tool could be better used. Other experts questioned the wisdom of the Chicago Department of Housing and Economic Development for giving money to nonprofits, which don’t pay into TIF districts, as well as companies who’ve used the money to pay for their corporate headquarters. In all, $1.2 billion was allocated for 171 projects.
Here are the West Side projects that were allocated TIF money, though in many cases the money has only been partially paid out if at all:
Brach’s Candy Redevelopment, 401 N. Cicero Ave. (28th Ward) – $10.6 million
General Laborers’ District Council of Chicago, 1841 N. Monitor Ave. (29th Ward) – $5.226 million
Home Depot, 1919 N. Cicero Ave. (31st Ward) – $2.675 million
Loretto Hospital, 645 S. Central Ave. (29th Ward) – $7.5 million
Lake & Waller housing development, 420 N. Waller Ave. (29th Ward) – $1.3 million
Merlin/Coca-Cola Enterprises Inc., 1401 N. Cicero Ave. (37th Ward) – $3.225 million