February 10, 2016

TIF Will Finance New Near South Side Park

312.744.9267

A new park on the Near South Side will be financed through a Tax Increment Financing (TIF) plan approved today by City Council.

TIF assistance in the amount of $2 million will enable the construction of a half-acre "pocket park" by the Metropolitan Pier and Exposition Authority (MPEA) at 2099 S. Prairie Ave.

Intended for use by area residents and visitors, the park will include a playground, water play area, a fenced dog area, and a plaza with seating. To be financed entirely by TIF, the park is part of the "Elevate Chicago" expansion initiative involving MPEA and other properties around the McCormick Place convention center.

 

# # #

 News Release Facts

 I Want To