The Chicago Park District’s recent construction of two new parks and planned upgrades to a third park would be supported with $2.45 million in Tax Increment Financing (TIF) assistance proposed to City Council today by Mayor Brandon Johnson.

• Park 599, at 1623 Edgewater Ave. in Edgewater, would receive $450,000 from the Edgewater/Ashland TIF district. Funding would support costs incurred during construction of 1.1-acres of open space improvements adjacent to the former Edgewater Hospital complex, which reopened in 2021 as Anderson Point apartments.
• Bessemer Park, at 8930 S. Muskegon Ave. in South Chicago, would receive $750,000 from the Commercial Avenue TIF district. Planned improvements include a rebuilt baseball diamond with lighting, fencing, benches and bleacher seating, as well as a replacement for an outdated water feature.

The City’s TIF program uses new property tax growth within designated districts to support public and private investment within their boundaries.

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