The Chicago Park District’s Board of Commissioners voted today and approved to enter into intergovernmental agreements with the City of Chicago that accepts the transfer of $31,602,000 in tax increment financing (TIF) funds for the reimbursement of funding for various park projects.
The City of Chicago is authorized under the provisions of the Tax Increment Allocation Redevelopment Act to finance projects that eradicate blight conditions and conservation factors that could lead to blight through the use of tax increment allocation financing for redevelopment projects.
The City of Chicago has set aside TIF funds in certain TIF districts for the acquisition, development or enhancement of existing parks. The Chicago Park District General Superintendent and CEO may negotiate and execute amendments to the existing agreements to reflect additional TIF funding for the project, if available.
The following are a list of park projects that will receive TIF funding:
- Blackwelder Park, 11500 S. Homewood Ave.
- TIF funds: $1,250,000
- TIF: 119th and I057 Redevelopment
- Purpose: playground and park development
- Neighborhood: Morgan Park Community Area (19th Ward)
- Buttercup Park, 4901-03 N. Sheridan Rd.
- TIF funds: $1,000,000
- TIF: Hollywood/Sheridan
- Purpose: playground
- Neighborhood: Uptown Community Area (48th Ward)
- Chicago Women’s Park and Gardens, 1801 S. Indiana Ave.
- TIF funds: $3,000,000
- TIF: Near South
- Purpose: building rehabilitation in phase II of the South Loop Field House
- Neighborhood: Near South Side Community Area (2nd Ward)
- Grant Park, 331 E. Randolph St.
- TIF funds: $1,000,000
- TIF: Near South
- Purpose: right of way improvements
- Neighborhood: Loop and Near South Side Community Areas (42nd and 2nd Wards)
- Hermitage Park, 5839 S. Wood St.
- TIF funds: $600,000
- TIF: 63rd/Ashland
- Purpose: new playground
- Neighborhood: West Englewood Community Area (15th Ward)
- Heritage Green Park, 610-30 W. Adams St.
- TIF funds: $750,000
- TIF: Canal Street/Congress Expressway
- Purpose: park development
- Neighborhood: Near West Side Community Areas (2nd Ward)
- Park 511, 630 N. Kingsbury St.
- TIF funds: $750,000
- TIF: Chicago/Kingsbury
- Purpose: park development
- Neighborhood: Near North Side Community Area (42nd Ward)
- Park 531, 2859 S. Halsted St.
- TIF funds: $1,000,000
- TIF: Pilsen Industrial Corridor
- Purpose: fencing, paving, and landscaping
- Neighborhood: Bridgeport Community Area (11th Ward)
- Park 558, 10609-15 S. Western Ave.
- TIF funds: $675,000
- TIF: Western Ave./Rock Island
- Purpose: park development
- Neighborhood: Beverly Community Area (19th Ward)
- Seward Park, 375 W. Elm St.
- TIF funds: $550,000
- TIF: Near North
- Purpose: playground
- Neighborhood: Near North Side Community Area (27th Ward)
- Skinner Park, 1331 W. Monroe St.
- TIF funds: $375,000
- TIF: Central West
- Purpose: park development
- Neighborhood: Near West Side Community Area (27th Ward)
- Smith (Joseph Higgins) Park, 2526 W. Grand Ave.
- TIF funds: $412,000
- TIF: Kinzie
- Purpose: building rehabilitation
- Neighborhood: West Town Community Area (26th Ward)
- Stanton Park, 618 W. Scott St.
- TIF funds: $1,500,000
- TIF: Near North
- Purpose: building rehabilitation
- Neighborhood: Near North Side Community Area (27th Ward)
- Taylor-Lauridsen Park, 704 W. 42nd St.
- TIF funds: $140,000
- TIF: 47th and Halsted
- Purpose: park development
- Neighborhood: New City Community Area (11th Ward)
- Ping Tom Park, 300 W.19th St.
- TIF funds: $10,000,000
- TIF: River South
- Purpose: new field house
- Neighborhood: Near South Side & Armour Square Community Areas (25th Ward)
- Jesse White Facility, 211 W. Chicago Ave.
- TIF funds: $5,000,000
- TIF: Near North
- Purpose: new facility
- Neighborhood: Near North Side Community Area (27th Ward)
- Warren Park, 6601 N. Western Ave.
- TIF funds: $100,000
- TIF: Touhy and Western
- Purpose: tennis courts
- Neighborhood: West Ridge Community Area (50th Ward)
- Wilson (Frank J.) Park, 4630 North Milwaukee Ave.
- TIF funds: $500,000
- TIF: Jefferson Park
- Purpose: playground
- Neighborhood: Portage Park Community Area (45th Ward)
- 18th and Clark Park, intersection of 18th and Clark streets
- TIF funds: $3,000,000
- TIF: River South
- Purpose: park development
- Neighborhood: Near South Side Community Area (25th Ward)
For more information about the Chicago Park District’s more than 7,700 acres of parkland, 570 parks, 26 miles of lakefront, 10 museums, two world-class conservatories, 16 historic lagoons, nearly 50 natural areas, thousands of special events, sports and entertaining programs, please visit www.chicagoparkdistrict.com or contact the Chicago Park District at 312/742.PLAY or 312/747.2001 (TTY). Want to share your talent? Volunteer in the parks by calling 312/742.PLAY.