PARK IMPROVEMENT PROJECTS PROPOSED FOR TIF FUNDING

Chicago Park District facilities in North Park and the Near West Side would receive $4.75 million in upgrades through Tax Increment Financing (TIF) proposals introduced to City Council today by Mayor Lori E. Lightfoot.

Touhy Herbert Park, at 2106 W. Adams St., would receive up to $3.5 million from the Central West TIF district to support ballfield and landscape improvements, playground upgrades, a new water feature, a new entry plaza and the removal of an outmoded comfort station. New lighting, benches and paved pathways would also be added throughout the park.

Gompers Park, at 4222 W. Foster Ave., would receive up to $1.25 million from the Foster/Edens TIF district to support renovations to fieldhouse locker rooms and pool access area.

The City’s TIF program uses new property tax growth within designated district to support public improvements within their boundaries.

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NEIGHBORHOOD OPPORTUNITY FUND GRANT WOULD SUPPORT

LOWER WEST SIDE CYCLE BUSINESS

A Lower West Side motorcycle business would renovate and expand its sales and service center through a $1.59 million Neighborhood Opportunity Fund grant proposed to City Council today by Mayor Lori E. Lightfoot.

Planned for 1901 S. Western Ave., the proposed improvements would include upgrades to an existing showroom, new classrooms and offices and the creation of a rooftop event space.

The $3 million project by Motoworks Chicago would retain and create 30 permanent jobs.

The Neighborhood Opportunity Fund allocates fees paid by downtown construction projects toward business improvement projects in portions of Chicago’s West, Southwest and South sides.

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PROPERTY TAX INCENTIVE PROPOSED FOR SOUTH SIDE RENOVATION PROJECT

A property tax incentive introduced to City Council today by Mayor Lori E. Lightfoot would enable a building renovation project in Roseland.

The $889,205 Hickman and Harrison Group project at 517 W. 111th St. would use a Class 7(a) inventive to renovate a 3,500-square-foot building as modern offices. Property tax savings are estimated at $129,086 over the 12-year term.

The 7(a) tax incentive program is administered by Cook County in cooperation with local municipalities to help revitalize vacant and underutilized commercial and industrial properties.

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FORMER NORTHTOWN BRANCH LIBRARY APPROVED FOR SALE TO REFUGEE EDUCATION NONPROFIT

The former Northtown Public Library Branch building in West Ridge will be rehabilitated to provide educational services to immigrants under a sale agreement introduced to City Council today by Mayor Lori E. Lightfoot.

Owned by the City of Chicago, the 11,400-square-foot building at 6435 N. California Ave. will be sold for $962,786 to the nonprofit Forging Opportunities for Refugees in America (FORA).

FORA, a privately funded organization that provides educational services to refugees in Chicago, will relocate from nearby offices and expand its literacy programs within the former library.

FORA’s offer to purchase the building was the highest of three bids received by the City this spring. A 2021 appraisal placed the property’s “as is” value at $630,000.

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