Quantcast

Chicago City Wire

Sunday, November 17, 2024

Chicago proposes land sale and TIF funding for new Kells Park fieldhouse

Webp qf60hbcwuhqs57jrlzn0wjj9702h

Ciere Boatright commissioner of the Chicago Department of Planning and Development (DPD) | City of Chicago Website

Ciere Boatright commissioner of the Chicago Department of Planning and Development (DPD) | City of Chicago Website

The Chicago Park District plans to construct a new fieldhouse in Kells Park through a land transfer and Tax Increment Financing (TIF) assistance proposed to the City Council by Mayor Brandon Johnson. The proposal involves three city parcels totaling 0.54 acres at 714-26 N. Kedzie Ave. in Humboldt Park, which would be sold for $1 per parcel to the Park District.

Up to $16.4 million in TIF for eligible construction costs would be made available from the Chicago/Central Park TIF district. A former fire station on one of the parcels would be razed to accommodate the new structure, which is expected to include a gym, meeting rooms, and restrooms.

The project is expected to be completed by the end of 2026.

MORE NEWS