TIF Funding Approved for 15 School Improvement Projects
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Chicago Public Schools will receive $4.9 million in Tax Increment Financing (TIF) assistance to repair and replace building automation systems at 15 facilities through measures approved by City Council today.
The building automation systems control the schools’ environmental and mechanical equipment. The funding will cover the entirety of project costs. The schools, funding amounts, and associated TIF districts include:
- Albany Park Multicultural Academy, 4929 N. Sawyer Ave. ($783,663, Lawrence/Kedzie TIF)
- Azuela Elementary School, 4707 W. Marquette Road ($300,000, 67th/Cicero TIF)
- Beidler Elementary School, 3151 W. Walnut St. ($280,000, Kinzie Industrial Corridor TIF)
- Chicago High School for Agricultural Sciences, 3857 W. 111th St. ($560,000, 111th/Kedzie TIF)
- Dett Elementary School, 2131 W. Monroe St. ($53,000, Central West TIF)
- Juarez Community Academy, 1450 W. Cermak Road ($431,000, Pilsen Industrial Corridor TIF)
- Lloyd Elementary School, 2103 N. Lamon Ave. ($600,000, Northwest Industrial Corridor TIF)
- Manierre Elementary School, 1420 N. Hudson Ave. ($405,000, Near North TIF)
- Marine Leadership Academy, 1920 N. Hamlin Ave. ($186,200, Pulaski Industrial Corridor TIF)
- McNair Elementary School, 4820 W. Walton St. ($250,000, Northwest Industrial Corridor TIF)
- McPherson Elementary School, 4728 N. Wolcott Ave. ($400,000, Western Avenue North TIF)
- Raby High School, 3545 W. Fulton Blvd. ($275,000, Chicago/Central Park TIF)
- Schurz High School, 3601 N. Milwaukee Ave. ($172,000, Portage Park TIF)
- Skinner West Elementary School, 1260 W. Adams St. ($60,830, Central West TIF)
- Suder Montessori, 2022 W. Washington Blvd. ($139,212, Central West TIF)
Chicago’s TIF program allocates property tax growth within designated TIF districts for public improvement projects, affordable housing, economic development, and other goals.