The Chicago Community Development Commission (CDC) today granted the Department of Community Development (DCD) the authority to negotiate redevelopment agreements with a local non-profit that works with underserved youth and their families and a long-time Chicago company specializing in manufacturing equipment and related products for use in science laboratories.

“Both of these projects continue to foster development in our City, assuring jobs remain in our communities and serving those who need help the most in Chicago,” said Acting Department of Community Development Commissioner Chris Raguso.

The CDC today recommended that City Council approve a redevelopment agreement with Ounce of Prevention Fund to redevelop the property at 5044 S. Wabash Avenue in the 47th/King Tax Increment Financing Redevelopment area in the Grand Boulevard community.  Currently, the one-story, 24,000 square foot building houses the Educare Family and Training Center, which serves 149 at-risk children and their families. The project includes a renovation and expansion of this facility, with a 7,800 square foot addition to be known as the Family and Training Center. The Center will house parent and family activities, teacher training facilities and administration. The current and expanded facilities are located on land the Ounce of Prevention leases from the Chicago Public Schools. The project includes $400,000 in TIF assistance.

The Commission also recommended Council approval of a redevelopment agreement with WaterSaver Faucet Company for redevelopment of the property at 701 W. Erie Street in the River West Tax Increment Financing Redevelopment area in the West Town community. WaterSaver Faucet Company has been in Chicago since the early 1900’s.  This project is the second and final phase of WaterSaver Faucet Company’s renovation and expansion plans.  The now complete phase I saw the relocation of WaterSaver’s affiliate, Guardian Equipment, from the company’s 701 W Erie headquarters to 1140 N. North Branch Street on Goose Island.  In this second phase, the company will renovate, expand and modernize its headquarters and manufacturing facility at 701 West Erie, where it produces laboratory grade faucets and valves. Phase 2 of this project includes $5.2 million in TIF assistance and the company is also seeking a Cook County Class 6(b) incentive. All told, both phases will mean the retention of 200 jobs in high tech manufacturing in the North Branch Industrial Corridor. --160 at WaterSaver and 40 at Guardian Equipment.