City of Chicago, IL
10/09/2024 | Press release | Distributed by Public on 10/10/2024 09:20
Uptown’s TimeLine Theatre Will Receive TIF Support
TimeLine Theatre's planned $40 million Uptown performance venue will be supported by up to $14 million in Tax Increment Financing approved by City Council today.
Being built within the vacant W.C. Reebie & Brother warehouse at 5035 N. Broadway, the four-story project will create a 250-seat theater and rehearsal, office, hospitality and community spaces.
Founded 25 years ago in Lake View, TimeLine Theatre's move to a new location will increase educational opportunities and expanded programming with Chicago Public Schools, among other enhancements.
The TIF funding will be provided from the Lawrence/Broadway TIF district as a $10 million forgivable loan and a $4 million loan to be repaid after project completion.
The project is estimated to retain 12 permanent full-time jobs, 14 part-time jobs, and create 200 construction jobs. Initial performances are anticipated in early 2026.
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