Mar 16, 2011
$10 Million City TIF to Jesse White Gym?
The city is going to cough up $10 million in TIF funds from the Near North TIF to help pay for a 30,00 square-foot gym named after Secretary of State jesse White, reports Skyline Press.
Funding for the $15 million project was originally scheduled to come from three sources. In February, the city coughed up $5 million in TIF capital to cover building costs. That contribution was expected to be matched by the park district and rounded out by $5 million contributed by White himself. But the park district has yet to confer its third of the funding, said Burnett, prompting him to ask the city to double its subsidies for the project — a request that sailed through the committee without discussion.