Tax Increment Financing Assignments in the City of Chicago, Illinois

Near North TIF Eligibility Study and Redevelopment Plan

The Near North Redevelopment Project Area contains 1,438 contiguous tax parcels covering approximately 340 acres of land on Chicago's near north side. This area included the Cabrini-Green public housing complex and a mix of other institutional, residential, commercial and industrial land uses. The growth and development of this prime area located between Chicago's Loop and the prestigious Lincoln Park neighborhood had been hindered to a significant extent by its proximity to Cabrini-Green.

The intent of the TIF redevelopment plan is to promote the creation of a revitalized mixed income community. The redevelopment plan envisioned the construction of a mix of new residential units including townhomes, single-family houses, three-flats and mid-rise buildings, rehabilitation of public housing units not scheduled for demolition, construction of commercial facilities to serve the community and construction, relocation or rehabilitation of parks, schools, library, police station, fire station and other public facilities needed to serve the community.

Camiros was responsible for the preparation of the eligibility study and redevelopment plan for this project which was adopted in July, 1997. Eligibility was established based on criteria for blighted, improved and vacant property. The eligibility study and redevelopment plan were presented at a community meeting and hearings before the Chicago Community Commission, Plan Commission and City Council Finance Committee.

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43rd and Damen TIF Eligibility Study and Redevelopment Plan

This project involved preparation of the eligibility study and redevelopment plan for the 43rd and Damen tax increment financing district in the City of Chicago. The evaluation of the eligibility of the study area for designation as a tax increment financing district included an exterior building condition survey, a parcel-by-parcel land use inventory, field reconnaissance of the study area and a review of pertinent reports, and tax and building records to determine building age, zoning and ownership of each parcel. Based on the analyses and evaluation, this 36-acre site was found to qualify for designation as a blighted area.

The redevelopment plan involved the acquisition and improvement of several large warehouse facilities within the Redevelopment Project Area to facilitate the expansion of the Farley Foods, USA warehouse facilities within the City of Chicago. This expansion allowed Farley to increase production at its Chicago plant - thus increasing employment.

Goose Island TIF Eligibility Study & Plan

For this assignment, Camiros, Ltd. undertook all analyses and field studies required to document the eligibility of the area as a tax increment financing (TIF) district. The firm also prepared a plan for an industrial park on the site. This project represented a major commitment by the city toward its industrial redevelopment policies, as expressed in the Chicago Northside Industrial Strategy, also prepared by Camiros for the Chicago Economic Development Commission and the City of Chicago.

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