Clark Park Scores TIF Assistance for New Baseball Stadium
North Center’s Clark Park will receive $1.3 million in Tax Increment Financing (TIF) for the construction of a baseball stadium under a financial plan approved today by City Council.
The stadium will be built on vacant land at 3400 N. Rockwell Ave. through a partnership between the City of Chicago, Chicago Park District, Chicago Public Schools and the Chicago Cubs. Featuring a covered, masonry grandstand, the $5.2 million facility will serve as the home field for nearby Lane Tech High School and be made available for other users.
In addition to TIF, funding will include $1 million from the Cubs and $1 million from Cubs pitcher Kerry Wood’s Wood Family Foundation. The remainder will come from the Park District and Chicago Public Schools.
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