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.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.
Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.
Ohio Forces Data Centers to Prepay for Power
Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.
MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.
Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
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.
Caltrans
City of Fort Worth
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie