Story and Photo by Adeshina O. Emmanuel, Jr.
Chi-Town Daily News
In a tense meeting rife with outbursts and muttered retorts, Alderman Helen Shiller defended her plan to nearly double the Wilson Yard TIF district's budget and pledged the project will benefit the public.
Opponents questioned whether TIF backers have been overly secret in putting together the expansion plan, and said they were concerned tax money allocated to the project might ultimately be frittered away.
TIF districts are established to fund improvements in areas suffering from blight. The TIF diverts a portion of property taxes generated in the district to redevelopment.
Shiller's amendment would place five additional pieces of land within the Wilson Yard district and increase the TIF's budget from $58 million to $112 million.
Those properties -- three vacant lots on the west side of Sheridan Road near Montrose, a former Salvation Army building on Broadway, and an adjacent parking lot -- would be redeveloped as a green technology center, says Shiller, (D-46). Continue Reading