TIF Proposed for Three North Side School Improvement Projects
Three North Side elementary schools would be improved through Tax Increment Financing (TIF) proposals introduced to City Council today by Mayor Lori E. Lightfoot.
- Northwest Middle School at 5252 W. Palmer St. in Belmont Cragin would receive $750,000 in TIF for the stabilization of a deteriorating chimney.
- Peter A. Reinberg Elementary School at 3425 N. Major Ave. in Portage Park would receive $400,000 in TIF to install a new synthetic surface on an existing recreation field.
- Lyman A. Budlong Elementary School at 2701 W. Foster Ave. in Lincoln Square would receive $300,000 in TIF to install a new synthetic surface on an existing recreation field.
The TIF assistance would reimburse Chicago Public Schools for the entire cost of all three projects. Construction could start next year.
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