showing TIF-funded projects in Chicago
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The City of Chicago Department of Planning and Development defines TIF:
Tax Increment Financing is a special funding tool used by the City of Chicago to promote public and private investment across the city. Funds are used to build and repair roads and infrastructure, clean polluted land and put vacant properties back to productive use, usually in conjunction with private development projects. Funds are generated by growth in the Equalized Assessed Valuation (EAV) of properties within a designated district over a period of 23 years.
This list of TIF projects excludes many, perhaps hundreds, of projects from the city's own departments, including many from the Chicago Department of Transportation that pay for street repaving, bike lanes, bike share stations (Divvy), and streetscape projects.
These projects are not in the source data set, but you can find them on the City of Chicago TIF projects portal.
Amount approvedThis is a dollar amount representing the funds that will be transferred to the developer/applicant over the duration of the agreement for that project. For private sector projects, funds are transferred after objectives in the agreement are verified.
Date approvedThis is the date on which the Chicago Community Development Commission approved the agreement for the use of TIF funds.