The city committee reviewed three tax increment financing redevelopment project plans. | File photo
The city committee reviewed three tax increment financing redevelopment project plans. | File photo
The city of Chicago Community Development Commission will meet at 1 p.m. Tuesday to recommend approval of the redevelopment plan for the proposed Diversey/Chicago River Tax Increment Financing Redevelopment Project Area.
The commission's 15 members review and recommend action on the provision of Tax Increment Financing (TIF) to assist private redevelopment projects; the designation of new TIF districts and redevelopment areas; the sale of city-owned property in TIF districts and redevelopment areas; and the appointment of members to Community Conservation Councils.
Here's the meeting's agenda, as provided by the city:
Notice: A public hearing will be held beginning at 1:00 pm regarding the proposed
Diversey/Chicago River TIF
COMMUNITY DEVELOPMENT COMMISSION
121 North LaSalle Street
Council Chambers, Second Floor City Hall
Regular Meeting, 1:00 p.m.
July 12, 2016
TENTATIVE AGENDA
I. ROLL CALL
II. APPROVAL OF MINUTES OF THE JUNE 14, 2016 MEETING
III. OLD BUSINESS
A. PROPOSED DIVERSEY/CHICAGO RIVER TIF
REDEVELOPMENT PROJECT AREA (WARD 1)
Recommend approval of the redevelopment plan for the proposed
Diversey/Chicago River Tax Increment Financing Redevelopment Project
Area, recommend designation of the area as a Tax Increment Financing
Redevelopment Project Area, and recommend adoption of Tax Increment
Financing for the area.
IV. NEW BUSINESS
A. MADSION/AUSTIN TIF REDEVELOPMENT PROJECT AREA
(WARD 28)
Request authority to advertise the Department of Planning and
Development’s intention to enter into a negotiated sale with Jackson &
Pulaski Plaza Inc. for the disposition of the property located at 3947-49
W. Jackson Boulevard in the Madison/Austin Tax Increment Financing
Redevelopment Project Area, to request alternative proposals, and to
approve the sale of the property to Jackson & Pulaski Plaza Inc. if no
responsive alternative proposals are received.
B. 47TH/KING DRIVE TIF REDEVELOPMENT PROJECT AREA
(WARD 3)
Request authority for the Department of Planning and Development to
negotiate a redevelopment agreement with PGS Bronzeville III, LP for
redevelopment of the property located at 401 E. Bowen Avenue in the
47th/King Drive Tax Increment Financing Redevelopment Project Area,
and to recommend to the City Council of the City of Chicago the
designation of PGS Bronzeville III, LP as Developer.
V. ADJOURNMENT
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