TIF Approved for Improvements to Three Chicago Park District Facilities

TIF Approved for Improvements to Three Chicago Park District Facilities

A trio of Chicago Park District capital improvement projects were approved by City Council today for $11 million in Tax Increment Financing (TIF) support.

Avondale Park, at 3516 W. School St. in Avondale, will receive $5 million from the Kennedy/Kimball TIF district for fieldhouse renovations, a water spray feature, a drinking fountain and an accessible entrance ramp. The funding is in addition to $2.86 million in TIF previously approved for the project.

Hermosa Park, at 2240 N. Kilbourn Ave. in Hermosa, will receive $4.2 million from the Northwest Industrial TIF district for fieldhouse waterproofing and interior restoration work.

Clarendon Community Center Park, at 4501 N. Clarendon Ave. in Uptown, will receive $2 million from the Montrose/Clarendon TIF district for fieldhouse renovations, playground upgrades, pathway paving, basketball court resurfacing, outdoor lighting and drainage improvements. The funding is in addtion to $10.4 million in TIF previously approved for the project.

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