IGA with the CHA and CPD
City Council approved an ordinance today that authorizes a land exchange between city agencies for seven parcels of land on the Near West Side for the development of a new park.

The proposal would allow the City to acquire the land located at 151 S. Rockwell St. and 2540-56 W. Jackson St. from the CHA, spend $2.8 million in Open Space Impact Fee funds for site preparation and development and later transfer ownership of the land to the Chicago Park District for West End Park.

The 2.18 acre site, previously occupied by the Rockwell Gardens public housing development, will be cleaned up and redeveloped into a neighborhood park as part of a multi-phase redevelopment plan for the neighborhood that includes housing for families and seniors.

The plan for the public park includes a ball field and spray pool as well as improved streetscape with plantings and fencing in the 2nd Ward.

IGA with Board of Education
The next ordinance authorizes an intergovernmental agreement with the Board of Education for $750,000 in TIF funds for the installation of a new athletic field at Henry D. Lloyd Elementary School in the Hermosa community.

The school, located at 2103 N. Lamon Ave., will install a new 23,000 square foot artificial turf playing surface in place of the existing grass.  The project also involves the addition of an underground storm water detention system.  

In addition to sport activities, the new field will be made available for other activities due to its resistance to wear and tear.

Vacant Building TIF Purchase Rehab Program
Also approved today was an ordinance that would grant the Department of Housing and Economic Development the authority to establish a program that would allocate TIF funds in certain TIF districts to support the rehab of vacant homes.

Under the ordinance, TIF funds for the homeownership program would cover up to 25 percent of the total cost of the purchase and rehab of one-to four-unit homes for qualified buyers whose incomes are at or below 120 percent of Area Median Income, or $90,000 for a family of four.

Under the proposed rental program, a vacant multifamily apartment building would be eligible to receive TIF assistance of up to 50 percent of the total cost to acquire and rehab the building, provided that at least half of the units in the building are made affordable to buyers at or below 50 percent of AMI, or $37,000 for a family of four.  

The ordinance is intended to provide incentives for people to purchase and rehab vacant properties — including foreclosures which under the ordinance would require the buyers to maintain the property as their primary residence.  The specific TIFs and amounts allocated from each TIF would need to be approved separately by the City Council.

Improvements to Livingston Field
The next ordinance authorizes an intergovernmental agreement with the Chicago Park District to provide $3 million in TIF financing for improvements to Livingston Filed on the Near West Side.

The City traded vacant parcels with the Illinois Medical District in exchange for land that contains the park and athletic fields and conveyed it to the Park District in 2010.

The exchange allowed for Livingston Field, located at the corner of Polk and Leavitt Streets, to remain in the community as open space and as a venue for youth sports leagues in a neighborhood underserved by park space.

Plans for the park include environmental remediation work, vacating a portion of Leavitt Street and constructing a combination baseball and football field with artificial turf and lighting in the 25th Ward.