The new TIF is expected to generate $900 million. Opponents wanted to wait until a new mayor is elected to decide on the TIF.
"The Community Development Commission on Tuesday unanimously approved the largest tax-increment-financing subsidy in Chicago history — $900 million — to unlock the development potential of the $6 billion Lincoln Yards development," reports Fran Spielman.
The 168-acre TIF will create revenue for reimbursing infrastructure expenditures by developer Sterling Bay.
Those infrastructure investments include: "untangling the notoriously congested intersection at Armitage, Ashland and Elston; a new Metra station; an extension of the wildly-popular 606 trail; new bridges over the Chicago River and a possible light-rail transit connection from the site, along the Chicago River, to downtown commuter rail stations," according to Spielman.
FULL STORY: Community Development Commission OKs $900 million TIF for Lincoln Yards
Multi-Modal Bridge Coming Soon to Lincoln Yards Mega-Project in Chicago
Residents of Chicago will soon see some of the fruits of the controversial tax increment financing for the Lincoln Yards project in Chicago's North Side.
Lincoln Yards Mega-Development Clears Final Legislative Hurdle
A Chicago City Council vote to approve tax increment financing for the massive Lincoln Yards redevelopment proposal scored a surprising reversal and a big win for outgoing Mayor Rahm Emanuel, with an assist from Mayor-elect Lori Lightfoot.
Mayoral Election Likely to Have Consequences for Chicago Mega-Development
The most recent citywide election in Chicago was considered a referendum on the old way of operating the city. The $6 billion Lincoln Yards project, on the brink of approval, could be included in that referendum.
Maui's Vacation Rental Debate Turns Ugly
Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
In Urban Planning, AI Prompting Could be the New Design Thinking
Creativity has long been key to great urban design. What if we see AI as our new creative partner?
King County Supportive Housing Program Offers Hope for Unhoused Residents
The county is taking a ‘Housing First’ approach that prioritizes getting people into housing, then offering wraparound supportive services.
Researchers Use AI to Get Clearer Picture of US Housing
Analysts are using artificial intelligence to supercharge their research by allowing them to comb through data faster. Though these AI tools can be error prone, they save time and housing researchers are optimistic about the future.
Making Shared Micromobility More Inclusive
Cities and shared mobility system operators can do more to include people with disabilities in planning and operations, per a new report.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
planning NEXT
Appalachian Highlands Housing Partners
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie