The Chicago Board of Education will complete three school improvement projects through more than $8.3 million in Tax Increment Financing (TIF) assistance approved by City Council today.

• Spencer Elementary Technology Academy, at 214 N. Lavergne Ave. in Austin, will receive $4.25 million from the Madison/Austin TIF district for a full roof replacement and targeted masonry repairs. CPS will pay for the balance of the $8.5 million project with completion expected by fall 2023.
• Irma Ruiz Elementary School, at 2410 S. Leavitt St. on the Lower West Side, will receive $3.8 million from the Pilsen Industrial Corridor TIF district for replacement of the building’s mechanical systems. The entire project will be financed by TIF with completion expected by fall 2023.
• Eric Solorio Academy High School, at 5400 S. St. Louis Ave. in Gage Park, will receive $329,800 from the 51st/Archer TIF district to improve environmental and mechanical systems within the building. The entire project will be financed by TIF with completion expected by fall 2023.

Chicago’s TIF program allocates property tax growth within designated TIF districts for public improvement projects, affordable housing, economic development, and other goals.