TIF Approved for Jones College Prep Building Enhancements
The current Jones College Prep high school building in the South Loop will be improved and integrated into the new Jones high school nearing completion on adjacent land through a Tax Increment Financing (TIF) plan approved today by City Council.
The $13.9 million in TIF assistance will upgrade the existing school’s mechanical systems, exterior and interior spaces, and provide for a direct connection with the new building.
“This project will provide for a bigger and better school that directly addresses the educational needs of families across the city,” Mayor Rahm Emanuel said.
The existing Jones school, at 606 S. State St., was built in 1967. It currently enrolls more than 800 students. The new seven-story building, scheduled to open at 700 S. State St. in fall 2013, was designed for 1,200 students. The combined facilities are projected to accommodate approximately 1,700 students. Both structures are owned by Chicago Public Schools.
One of the most popular selective enrollment high schools in Chicago, Jones routinely ranks as one of the top five high schools in the state of Illinois.
TIF assistance in the amount of $115 million is funding the construction of the new building. The improvements to the existing Jones building will be completed over the summer.
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