TAX INCREMENT FINANCING Ten (10) Year Status Report 2001-2011
DIVISION/HOMAN Redevelopment Project Area Designated June 27, 2001
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 14
Status of Planned Activities, Goals and Objectives 15
Progress toward Achieving Goals and Objectives 17
Division/Homan TIF District Ten (10) Year Status Report
Executive Summary
DIVISION/HOMAN REDEVELOPMENT PROJECT AREA
Designated: June 27, 2001
Expires: December 31, 2025
358 acres
592 parcels at time of designation
The Division/Homan Redevelopment Project Area ("RPA") is located in the Humboldt Park and West Town community areas and contains a mixture of residential, commercial, light industrial, open space and institutional uses. The 358-acre RPA was designated to provide incentives to developers and property owners for property restoration and reuse projects offering new and expanded business opportunities. The RPA was also intended to provide resources for recreational improvements to Humboldt Park and to foster industrial investments, where appropriate. Other priorities include assistance to new and rehabilitated mixed-income residential properties, right-of-way improvements to facilitate traffic flow, and streetscape projects to foster pedestrian activity along key retail strips.
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