Two Tax Increment Financing (TIF) proposals introduced to City Council today by Mayor Rahm Emanuel would support a proposed Morgan Park restaurant and improvements at an Englewood elementary school.
CP MOK Properties, LLC
The restaurant would rise at 10900 S. Western Ave. through $350,000 in TIF assistance. The developer, CP MOK Properties, LLC, would build the 4,500-square-foot, one-story facility and lease it to the operator of a Home Run Inn Pizza parlor. The $1.5 million proposal would create 10 full-time and 25 part-time jobs.
Oliver Wendell Holmes Elementary School
The school proposal would involve $3.3 million in TIF that would be reimbursed to the Chicago Board of Education for costs related to a completed, 4,800-square-foot expansion of Oliver Wendell Holmes Elementary School. The single-story building at 955 W. Garfield Blvd. houses a kitchen, dining area and educational space. The project also included a new athletic field and landscaping.
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