TIF Funding Approved for Four School Improvement Projects

TIF Funding Approved for Four School Improvement Projects

Three Chicago Public Schools facilities and one Chicago Park District facility will be improved through $5 million in Tax Increment Financing (TIF) support approved by City Council today.

George Rogers Clark Elementary School, located at 1045 S. Monitor Ave. in Austin, will receive $1.5 million from the Roosevelt/Cicero TIF for installation of a new artificial turf play field and building automation system.

Skinner North Classical School, located at 640 W. Scott St. on the Near North Side, will receive $1 million from the Near North TIF district for playground improvements.

John M. Smyth Elementary School, located at 1059 W. 13th St. on the Near West Side, will receive $900,000 from the Roosevelt/Racine TIF district for auditorium renovations.

TIF will pay the entirety of each project's cost.

Madigan Park at Mariano Azuela Elementary School, located at 4701 W. Marquette Road in West Lawn, will receive $1.6 million from the 67th/Cicero TIF district for installation of an artificial turf field. The total project cost is $2.8 million.

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