Shiller Wants Mo’ Money for Wilson Yard TIF District
By LORRAINE SWANSON, Editor
Ald. Helen Shiller appeared before Uptown Business Partners board members and SSA #34 commissioners seeking their approval for another amendment to the Wilson Yard TIF agreement on Wednesday afternoon.
The alderman is proposing adding another amendment seeking an additional $112 million in tax dollars to be added to the Wilson Yard TIF budget and acquisition authority for several properties south of Wilson Avenue.
[...] Shiller is also seeking acquisition authority to use Wilson Yard TIF funds to acquire three vacant lots on the west side of the 4400 block of Sheridan Road, and the former Salvation Army building at 1025 W. Sunnyside and adjacent lot. The Sheridan Road properties will be developed into parking for businesses east of Broadway. She also wants to turn the former Salvation Army building into a green technology center. Land can be purchased under the state’s TIF laws.
Read the entire article at Lake Effect News.
Update from LEN: "CLARIFICATION: Ald. Helen Shiller’s office contacted us this morning and asked that we make a clarification on the proposed Wilson Yard TIF amendment. Shiller is proposing increasing the original Wilson Yard TIF budget to $112 million in 2009 dollars. The original TIF budget for Wilson Yard passed in 2001 was approximately $58 million in 2001 dollars. The budget adjustment for $112 million reflects today’s dollars. We regret the confusion."