November 16, 2020

TIF Would Support Auburn Gresham Healthy Living Hub

312.744.9267

A vacant, four-story building in Auburn Gresham would be redeveloped as a healthy living hub through Tax Increment Financing (TIF) assistance introduced today to City Council by Mayor Lori E. Lightfoot as a part of the City’s INVEST South/West initiative.

The $15.9 million project at 839-45 W. 79th St. would include medical offices for anchor tenant UI Health, providing comprehensive primary and preventative services to community residents. Other tenant spaces would include a pharmacy, health and wellness stores, and a workforce development center. Building amenities would include space for educational activities, a green roof, and on-site parking.

TIF assistance up to $2.1 million would support the 51,000-square-foot project by the Greater Auburn Development Corp., which would move its headquarters into the building. The TIF assistance would be provided in two annual installments following project completion.

Other funding sources would include $4 million from the Community Development Block Grant program, a $3 million Chicago Prize grant from the Pritzker Traubert Foundation, $2.8 million in New Markets Tax Credit equity, and a private loan.

The project would create 65 full-time jobs and 68 construction jobs.

The proposed complex is located in one of the 10 priority communities selected as part of the City’s INVEST South/West program, which is marshaling the resources of multiple City departments, community organizations, and corporate partners to spur new development along commercial corridors on Chicago’s South and West sides. 

 

# # #

 News Release Facts

 I Want To