TAX INCREMENT FINANCING Ten (10) Year Status Report 2001-2011
HUMBOLDT PARK COMMERCIAL 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 9
City Expenditures within the RPA 9
Declaration of Surplus Funds 10
Redevelopment Project Area Accomplishments 11
RPA Project Profiles - Major Accomplishments 11
Additional Performance Metrics 15
Status of Planned Activities, Goals and Objectives 16
Progress toward Achieving Goals and Objectives 18
Humboldt Park Commercial TIF District Ten (10) Year Status Report
Executive Summary
HUMBOLDT PARK COMMERCIAL REDEVELOPMENT PROJECT AREA
Designated: June 27, 2001
Expires: December 31, 2025
138 acres
924 parcels at time of designation
The Humboldt Park Commercial Redevelopment Project Area ("RPA") was characterized at the time of its designation by a mix of commercial, institutional and residential uses along North Avenue, Division Street and Western Avenue. The 138-acre RPA was designated to support the rehabilitation of existing structures and provide resources for new construction projects, where appropriate. Specific goals of the Humboldt Park Commercial RPA include the creation of affordable and mixed-income housing, the replacement of select car-oriented businesses with pedestrian-friendly commercial and mixed-use projects, the implementation of streetscape projects that foster neighborhood identity, and the creation of a restaurant row along Division Street. Funds are also...
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