TAX INCREMENT FINANCING Ten (10) Year Status Report 2000-2011
MONTCLARE Redevelopment Project Area Designated August 30, 2000
July 23, 2013
Pursuant to 65 ILCS 5/11-74.4-5
Prepared by
CITY OF CHICAGO DEPARTMENT OF HOUSING AND ECONOMIC DEVELOPMENT
AND
S. B. FRIEDMAN & COMPANY
TABLE OF CONTENTS
Executive Summary|910|Redevelopment Project Area Information|910|Project Area Context and Background|910|Conditions at Time of TIF Creation|910|Goals and Objectives for the RPA|910|Estimated Redevelopment Project Costs and Allocations|910|Redevelopment Project Area Revenues and Expenditures|910|Growth in EAV and Revenue Generated within RPA|910|Transfers of TIF Funds|910|City Expenditures within the RPA|910|Declaration of Surplus Funds 9
Redevelopment Project Area Accomplishments 10
RPA Project Profiles - Major Accomplishments 10
Additional Performance Metrics 13
Status of Planned Activities, Goals and Objectives 14
Progress toward Achieving Goals and Objectives 14
Montclare TIF District Ten (10) Year Status Report
Executive Summary
MONTCLARE REDEVELOPMENT PROJECT AREA
Designated: August 30, 2000 Expires: December 31, 2024 11 acres
2 parcels at time of designation
The Montclare Redevelopment Project Area ("RPA") was designated to support the creation of a senior housing complex within the Montclare community on 11 acres of former industrial land. At the time of designation, the property was characterized by vacant, underutilized land filled with debris from an industrial facility demolished in 1986. The purpose of designating the RPA as a TIF district was to encourage the site's redevelopment as a senior housing complex, which would include an independent living facility and community room. RPA funds are also targeted for site assembly costs, preparation expenses and public works improvements within the district.
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Montclare TIF District Ten (10) Year Status Report
Montclare RPA Activity 2000-2011
INVESTMENT SUMMARY
$47.3...
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