A Tax Increment Financing (TIF) district that supports industrial uses in the Stockyards Industrial Corridor will be extended for an additional 12 years under a plan approved today by City Council.

The 70-acre Stockyards Southeast Quadrant TIF was designated in 1995 to strengthen the economic viability of businesses and infrastructure in the southeast portion of the industrial corridor. Originally scheduled to expire at the end of 2016, the district’s 12-year extension will support the continued assembly and preparation of land for private development.

The size of the district and boundaries will remain unchanged. The Stockyards Southeast Quadrant TIF is generally bounded by Exchange Avenue, Halsted Street, 47th Street, and Packers Avenue.

The new expiration date for the district would be Dec. 31, 2028.

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