Kenwood Academy Improvements Approved for Additional City Financing
Department of Planning and Development 312.744.9267
Kenwood Academy High School in Kenwood will make long-planned upgrades to its campus through $4.75 million in additional Tax Increment Financing (TIF) assistance approved by City Council today.
The additional funding will cover cost escalations involving materials and labor for a planned pedestrian bridge between campus buildings and new heating, ventilation and air conditioning equipment in the gymnasium.
The project at 5015 S. Blackstone Ave. was approved in 2021 for $9.2 million in TIF assistance that was expected to fund the entire project. Under the new terms, Chicago Public Schools will contribute $450,000 toward the increased costs.
The City’s TIF program uses new property tax growth within designated districts to support public and private improvements within their boundaries.
###