The Northwest Side's Greenbaum Playlot Park would be doubled in size through financing measures proposed to City Council today by Mayor Richard M. Daley.

Tax Increment Financing (TIF) assistance valued at $1.9 million, along with approximately $151,000 in Open Space Impact Fees, would help pay for the park's expansion onto three acres of land adjacent to North Grand High School, 4338 W. Wabansia Ave.

"In addition to an improved playground, North Grand students and nearby residents would benefit from a new ball field, basketball court and walking path proposed for the site," Mayor Daley said.

Kildare Avenue, between the park and the school, is proposed to be vacated as part of the park expansion. The Park District would contribute $400,000 to the project. The City of Chicago collects Open Space Impact Fees from new residential developments to help create new open spaces in each of Chicago's 77 community areas.

TIF is a City of Chicago funding tool that's used to promote infrastructure and other improvements in designated districts across the city.