TIF Funding Proposed for School Improvement Projects
Improvement projects at three Chicago Public Schools (CPS) facilities would be supported by $10.7 million in Tax Increment Financing (TIF) assistance, under a proposal introduced to City Council today by Mayor Brandon Johnson.
- Friedrich W. Von Steuben Metropolitan Science High School, at 5039 N. Kimball Ave. in North Park, would receive $2.5 million from the Lawrence/Kedzie TIF District to replace the building’s fire alarm system. TIF would fund the cost of the entire project.
- Roberto Clemente Community Academy High School, at 1147 N. Western Ave. in West Town, would receive $5.3 million from the Humboldt Park TIF District to replace its air chilling system. TIF would fund the cost of the entire project.
- Irvin C. Mollison Elementary School, at 4415 S. Dr. Martin Luther King Jr. Drive in Grand Boulevard, would receive $2.9 million from the 47th/King Drive TIF District for a new roof, masonry repair, and a new rubber surface play area that includes a two-lane running track. CPS would fund the remainder of the $5.8 million project cost.
Chicago’s TIF program allocates property tax growth within designated TIF districts for public improvement projects, affordable housing, economic development, and other community investments.