Information on rehabilitation agreements funded by the TIF (RDA) and intergovernmental agreements (IGA) approved by the municipal council since the beginning of the TIF programme. This dataset does not contain any public infrastructure projects. For more information on these projects, including documentation, see the Department of Planning and Development (DPD) TIF portal under webapps1.chicago.gov/ChicagoTif. For more information about the Tax Increment Financing program, see cityofchicago.org/tif. In order to meet complex and prohibitive obligations that restrict the developer`s ability to use its own incremental TIF revenues, JRG strategically implemented TIF strategies to maximize the duration and revenue potential of the turnaround project, resulting in additional TIF revenues of $2,000,000. JRG analyzed the impact and benefits of removing project PINs from the original 53rd Street TIF and creating a new TIF to ensure the stability of the old TIF and ensure new growth for the City Hyde Park rehabilitation project. JRG also facilitated the use of corporate zone incentives for the project, which significantly reduced the cost of building materials. Among the details of the project are: a critical analysis of the negative increase in TIF in TTIF`s main funding sources identified an early warning about dangerous recessive effects on TIF revenue sources for 188 W. Randolph and other rehabilitation projects. JRG worked with the City of Chicago to evaluate and optimize tax codes within selected tiFs to obtain the positive calculation of TIF revenues in accordance with the TIF Act. JRG has developed a computerized payment model that processes all TIF-related development agreement payments for the City of Chicago. JRG has developed an TIF-by-TIF financial plan that documents the financial and compliance parameters of all existing and planned agreements (public and private) and calculates the value of contracts with the third-party city and develops an estimate of the net resources available in each TIF district within the City of Chicago.
JRG and his collaborators have led this project through the many stages of its history-steeped journey, beginning with the initial designation of the Old Chicago Bridge and Iron Works as an TIF District in 2001. After a successful environmental renovation and the commissioning of a new subdivision on this industrial wasteland, the project stopped in 2008 with the real estate crash. Eight hopeful homeowners had moved in the middle of a partially completed road system. JRG successfully renegotiated a modified renovation agreement between the developer and the city to preserve the nascent community and allow for further development of the site. The following links include the history, goals, and eligible renovation costs for the City of Chicago`s TIF districts. To leave a comment, you will be redirected to the Chicago site where you will be asked to register. Want to go to data.cityofchicago.org? JRG has helped Chicago Public Schools provide TIF support for the development of new schools, supplements and rehabilitation improvements, large and small. JRG played an important role in the development of a large urban capital improvement program called Modern Schools Across Chicago, which brought in more than $500 million in TIF funding for new schools and additions. JRG collaborates with the Chicago Department of Planning and Development and the Chicago Department of Finance on initiatives to fund tax increases to support the Board`s Capital Enhancement Program.
Services and analysis include: negotiation, development and processing of the TIF roadmap and rehabilitation agreement Development of project budgets and cost budgets eligible for the TIF The City of Chicago authorized the creation of the Devon-Sheridan TIF in 2004. Newcastle successfully negotiated a rehabilitation deal with the city that awarded $46 million to Loyola to fund a $85 million renovation of a national historic symbol on its campus. . . .