2016 TIF Fund Transfers & Notes

[Return to 2016 TIF Analysis]

Here are the details of TIF transactions from our 2016 analysis.

Research Notes
35th/State In December 2015, the City declared a surplus with the fund balance of the Project in the amount of $248,000.  In February 2016, the surplus funds were sent to the Cook Country Treasurer’s Office to be redistributed to the various taxing agencies.  In May 2016, the City declared a surplus within the fund balance of the Project in the amount of $1,000,000.  In May 2016, the surplus funds were sent to the Cook Country Treasurer’s Office to be redistributed to the various taxing agencies.
47th/Halsted During 2016, in accordance with State statutes, the Project transferred $175,092 to the contiguous 47th/Ashland Redevelopment Project to fund debt service for Phase II of the Modern Schools Across Chicago Bonds, Series 2010. In May 2016, the City declared a surplus within the fund balance of the Project in the amount of $2,600,000.  In May 20-16, the surplus funds were sent to the Cook County Treasurer’s Office to be redistributed to the various taxing agencies.
67th/Wentworth During 2016, in accordance with State statures, the Project received $625,000 from two contiguous Redevelopment Projects (69th/Ashland $250,000 and 79th/Vincennes $375,000) to fund the Retail Thrive Zone Program, which provides support to spur economic development in the City.
69th/Ashland In December 2015, the City declared a surplus within the fund balance of the Project in the amount of $1,544,00.  In February 2016, the surplus funds were sent to the Cook Country Treasurer’s Office to be redistributed to the various taxing agencies.  In December 2016, the City declared a surplus within the fund balance of the Project in the amount of $450,000.  In May 2016, the surplus funds were sent to the Cook Country Treasurer’s Office to be redistributed to the various taxing agencies. “During 2016, in accordance with the State statutes, the Project transferred $250,000 to the contiguous 67th/Wentworth Redevelopment Project to fund the Retail Thrive Zone Program, which provides support to spur economic development in the City.
71st/Stony Island During 2016, in accordance with State statutes, the Project received $5,141,826 from three contiguous Redevelopment Projects (87th/Cottage Grove $1,892,612, Stony Island Avenue Commercial and Burnside Industrial Corridors $1,823,173 and Woodlawn $1,426,041) to find debt service for Phase I of the Modern Schools Across Chicago Bonds, Series 2007.
73rd/University “In December 2015, the City declared a surplus within the fund balance of the Project in the amount of $931,000.  In February 2016, the surplus funds were sent to the Cook Country Treasurer’s Office to be redistributed to the various taxing agencies.  In December 2016, the City declared a surplus within the fund balanc e of the Project in the amount of $20,900.  In February 2017, the surplus funds were sent to the Cook Country Treasurer’s Office to be redistributed to the various taxing agencies.”                             “During 2016, in accordance with the State statutes, the Project transferred $625,000 to the contiguous 87th/Cottage Grove Redevelopment Project to fund the Retail Trive Zone Program, which provides support to spur economic development in the City.”
79th Street In December 2015, the City declared a surplus with the fund balance of the Project in the amount of $182,000.  In February 2016, the surplus funds were sent to the Cook Country Treasurer’s Office to be redistributed to the various taxing agencies.  In December 2016, the City declared a surplus within the fund balance of the Project in the amount of $49,000.  In February of 2017, the surplus funds were sent to the Cook Country Treasurer’s Office to be redistributed to the various taxing agencies.
79th/Southwest Highway In December 2015, the City declared a surplus within the Fund balance of the Project in the amount of $283,000.  In February 2016, the surplus funds were sent to the Cook Country Treasurer’s Office to be redistributed to the various taxing agencies.  In December 2016, the City declared a surplus within the fund balance of the Project in the amount of $2,544,000.  In February 2017, the surplus funds were sent to the Cook County Treasurer’s Office to be redistributed to the various taxing agencies.
79th/Vincennes “n December 2015, the City declared a surplus within the fund balance of the Project in the amount of $154,000.  In February 2016, the surplus funds were sent to the Cook Country Treasurer’s Office to be redistributed to the various taxing agencies.  In December 2016, the City declared a surplus within the fund balance of the Project in the amount of $6,000.  In February 2017, the surplus funds were sent to the Cook Country Treasurer’s Office to be redistributed to the various taxing agencies. During 2016, in accordance with State statues, the Project transferred $375,000 to the contiguous 67th/Wentworth Redevelopment Project to fund the Retail Thrive Zone Program, which provides support to spur economic development in the City.
87th/Cottage Grove During 2016, in accordance with State statutes, the Project received $625,000 from the contiguous 73rd/University Redevelopment Project to fund the Retail Thrive Zone Program, which provides support to spur economic development in the City. In addition, the Project transferred $1,892,612 to the contiguous 71st and Stony Island Redevelopment Project to fund debt service for Phase I of the Modern Schools Across Chicago Bonds, Series 2007.
95th/Western In December 2016, the City declared a surplus within the fund balance of the Project in the amount of $51,100.  In February 2017, the surplus funds were sent to the Cook Country Treasurer’s Office to be redistributed to the various taxing agencies.                                                                                            During 2016, in accordance with State statutes, the Project transferred $1,700,000 to the contiguous Western Ave/Rock Island Redevelopment Project to fund the intergovernmental agreement with the Chicago Park District for the development of the Morgan Park-Beverly Sports Center located at 2330 W. 115th Street.
107th/Halsted During 2016, in accordance with State statutes, the Project received $1,000,000 from two contiguous Redevelopment Projects (119th/1-57 $625,000 and 119th/Halsted $375,000) to fund the Retail Thrive Zone Program, which provides support to spur economic development in the City.
119th/Halsted During 2016, in accordance with State statutes, the Project transferred $375,000 to the contiguous 107th/Halsted Redevelopment Project to fund the Retail Thrive Zone Program, which provides support to spur economic development in the City.
119th/I-57 In May 2016,the City declared a surplus within the fund balance of the Project in the amount of $222,700.  In February 2017, the surplus funds were sent to the Cook County Treasurer’s Office to be redistributed to the various taxing agencies.                     During 2016, in accordance with State statutes, the Project transferred $625,000 to the contiguous 107th/Halsted Redevelopment Project to fund the Retail Thrive Zone Program, which provides support to spur economic development in the City.
Addison North In December of 2015 City declared a surplus of $1,500,000 and in February 2016 the surplus was redistributed. In December 2016 the City declared a surplus of $2,000,000 and in February 2017 the funds were redistributed.
Addision South In December of 2015 City declared a surplus of $1,379,000 and in February 2016 the surplus was redistributed. In December 2016 the City declared a surplus of $212,900 and in February 2017 the funds were redistributed.
Austin In December 2016, the City declared a surplus within the fund balance of the Project in the amount of$41,200. In February 2017, the surplus funds were sent to the Cook County Treasurer’s Office to be redistributed to the various taxing agencies.”

During 2016, in accordance with State statutes, the Project received $235,000 from the contiguous North-Cicero Redevelopment Project to fund the Retail Thrive Zone Program, which provides support to spur economic development in the City.

Belmont/Central During 2016, in accordance with State statutes, the Project transferred $332,669 to the contiguous Galewood/Armitage Industrial Redevelopment Project to fund debt service for Phase I of the Modern Schools Across Chicago Bonds, Series 2007. In addition, the Project transferred $1,930,292 to the contiguous Galewood/Armitage Industrial Redevelopment Project to fund debt service for Phase II of the Modern Schools Across Chicago Bonds, Series 2010.
Belmont/Cicero In December of 2015 City declared a surplus of $54,000 and in February 2016 the surplus was redistributed. In December 2016 the City declared a surplus of $302,000 and in February 2017 the funds were redistributed.
Canal/Congress In December of 2015 City declared a surplus of $35,000,000 and in February 2016 the surplus was redistributed. In December 2016 the City declared a surplus of $25,000,000 and in February 2017 the funds were redistributed.
Central West MacArthur Foundation $37,408 for “Development”
Chicago/Central Park During 2016, in accordance with State statutes, the Project received $8,108,005 from four contiguous Redevelopment Projects (Midwest $1,691,199, Kinzie Industrial Corridor $4,462,678, Pulaski Corridor $913,874 and Northwest Industrial Corridor $1,040,254) to fund debt service for Phase I of the Modern Schools Across Chicago Bonds, Series 2007 and $1,332,184 from two contiguous Redevelopment Projects (Kinzie Industrial Corridor $1,135,252 and Midwest $196,932) to fund debt service for Phase II of the Modern Schools Across Chicago Bonds, Series 2010. In addition, the Project received $250,000 from the contiguous Kinzie Industrial Corridor Redevelopment Project to fund the Retail Thrive Zone Program, which provides support to spur economic development in the City.
Chicago/Kingsbury In December of 2015 City declared a surplus of $40,000,000 and in February 2016 the surplus was redistributed. In December 2016 the City declared a surplus of $30,000,000 and in February 2017 the funds were redistributed.
Clark/Montrose In December of 2015 City declared a surplus of $293,000, and in February 2016 the surplus was redistributed. In December 2016 the City declared a surplus of $969,000 and in February 2017 the funds were redistributed.
Cicero/Archer In December of 2015 City declared a surplus of $81,000, and in February 2016 the surplus was redistributed. In December 2016 the City declared a surplus of $38,000 and in February 2017 the funds were redistributed.
Commercial Avenue During 2016, in accordance with State statutes, the Project received $8,108,005 from four contiguous Redevelopment Projects (Midwest $1,691,199, Kinzie Industrial Corridor $4,462,678, Pulaski Corridor $913,874 and Northwest Industrial Corridor $1,040,254) to fund debt service for Phase I of the Modern Schools Across Chicago Bonds, Series 2007 and $1,332,184 from two contiguous Redevelopment Projects (Kinzie Industrial Corridor $1,135,252 and Midwest $196,932) to fund debt service for Phase II of the Modern Schools Across Chicago Bonds, Series 2010. In addition, the Project received $250,000 from the contiguous Kinzie Industrial Corridor Redevelopment Project to fund the Retail Thrive Zone Program, which provides support to spur economic development in the City.
Devon/Western During 2016, in accordance with State statues, the Project transferred $559,469 to the contiguous Touhy/Western Redevelopment Project to fund debt service for Phase I of the Modern Schools Across Chicago Bonds, Series 2007. In addition, the Project transferred $1347,580 to the contiguous Touhy/Western Redevelopment Project to fund debt service for Phase II of the Modern Schools Across Chicago Bonds, Series 2010.
Division/Homan In December 2016, the City declared a surplus within the fund balance of the Project in the amount of $68,100. In February 2017, the surplus funds were redistributed.
Ewing Avenue Operating Transfers In: During 2016, in accordance with State statutes, the Project received $1,700,000 from the contiguous Lake Calumet Area Industrial Redevelopment Project to fund the intergovernmental agreement with the Board of Education for the rehabilitation of the Matthew Gallistel Language Academy located at 10347 South Ewing Avenue
Foster/California During 2016, in accordance with State statutes, the Project received $920,000 from the contiguous Western Avenue North Redevelopment Project to fund the redevelopment agreement with Swedish Covenant Hospital located at 5140 North California Avenue. In addition, the Project received $2,144,830 from the contiguous Western Avenue North Redevelopment Project to fund the intergovernmental agreement with the Board of Education for the rehabilitation of the Budlong School located at 2701 West Foster Avenue.
Galewood/Armitage During 2016, in accordance with State statutes, the Project received $613,705 from two contiguous Redevelopment Projects (Belmont/Central $332,669 and Northwest Industrial Corridor $281,036) to fund debt service for Phase I of the Modern Schools Across Chicago Bonds, Series 2007. In addition, the Project received $2,018,032 from two contiguous Redevelopment Projects (Belmont/Central $1,930,292 and Northwest Industrial Corridor $87,740) to fund debt service for Phase II of the Modern Schools Across Chicago Bonds, Series 2010.
Greater Southwest West In December 2015, the City declared a surplus within the fund balance of the Project in the amount of $296,000. In February 2016, the surplus funds were sent to the Cook County Treasurer’s Office to be redistributed to the various taxing agencies. In December 2016, the City declared a surplus within the fund balance of the Project in the amount of $134,000. In February 2017, the surplus funds were sent to the Cook County Treasurer’s Office to be redistributed to the various taxing agencies.
Harrison/Central During 2016, in accordance with State statutes, the Project received $1,991,523 from two contiguous Redevelopment Projects (Madison/Austin Corridor $995,761 and Roosevelt/Cicero $995,763) to fund the redevelopment agreement with Loretto Hospital for the rehabilitation of their facility located at 645 South Central Avenue.
Hollywood/Sheridan During 2016, in accordance with State statutes, the Project received $575,824 from the contiguous Lawrence/Broadway Redevelopment Project to fund the redevelopment agreement with Hollywood House Limited Partnership for their development at 5700 North Sheridan Road.
Humboldt Park During 2016, in accordance with State statutes, the Project transferred $500,000 to the contiguous Pulaski Corridor Redevelopment Project to fund the intergovernmental agreement with the Board of Education for the rehabilitation of the Marine Leadership Academy at Ames located at 1920 North Hamlin Avenue.
Irving Park/Elston No report available.
Jefferson/Roosevelt In December 2015, the City declared a surplus within the fund balance of the Project in the amount of $12,000,000. In February 2016, the surplus funds were sent to the Cook County Treasurer’s Office to be redistributed to the various taxing agencies. In December 2016, the City declared a surplus within the fund balance of the Project in the amount of $7,000,000. In February 2017, the surplus funds were sent to the Cook County Treasurer’s Office to be redistributed to the various taxing agencies.
Kinzie During 2016, in accordance with State statutes, the Project transferred $4,462,678 to the contiguous Chicago/Central Park Redevelopment Project to fund debt service for Phase I of the Modern Schools Across Chicago Bonds, Series 2007 and $1,135,252 to the contiguous Chicago/Central Park Redevelopment Project to fund debt service for Phase 11 of the Modern Schools Across Chicago Bonds, Series 2010. In addition, the Project transferred $250,000 to the contiguous Chicago/Central Park Redevelopment Project to fund the Retail Thrive Zone Program, which provides support to spur economic development in the City.
Lake Calumet During 2016, in accordance with State statutes, the Project received $4,250,000 from two contiguous Redevelopment Projects (South Chicago $2,500,000 and Commercial Avenue $1,750,000) to fund the Industrial Growth Zone Program that provides financial assistance for environmental assessment, remediation and site preparation activities. In addition, the Project transferred $550,000 to the contiguous North Pullman Redevelopment Project to fund the redevelopment agreement with Chicago Neighborhood Initiatives Inc. for their development located near 111th/Ellis Avenue and $1,700,000 to the contiguous Ewing Avenue Redevelopment Project to fund the intergovernmental agreement with the Board of Education for the rehabilitation of the Matthew Gallistel Language Academy located at 10347 South Ewing Avenue.
Lawrence/Broadway During 2016 the TIF transferred $575,824 to the Hollywood/Sheridan TIF for the Hollywood House development project, 5700 N. Sheridan Road. In December 2016 the City declared a surplus of $5,000,000 and in February 2016 the funds were redistributed.
Lincoln Avenue During 2016 the TIF received $831,913 from Western Avenue TIF for debt service for Phase I of Modern Schools Across Chicago Bonds, Series 2007.
Madden/Wells $104,000 to MacArthur Foundation for “Development”
Madison/Austin During 2016 TIF received $1,629,592 from the Midwest TIF and $2,864,190 from the Northwest Industrial Corridor TIF to fund debt service for Phase I of Modern Schools Across Chicago Bonds, Series 2007. In addition, the TIF transferred $995,761 to the Harrison/Central TIF for redevelopment of Loretto Hospital at 645 S. Central Avenue. Also $520,790 to Northwest Industrial TIF and $520,790 to the Midwest TIF for redevelopment of Austin High School.
Midway Operating Transfers Out
During 2016, in accordance with State statutes, the Project transferred $3,232,299 to the contiguous51st/Archer Redevelopment Project to fund debt service for Phase I of the Modern Schools Across Chicago Bonds, Series 2007 and $43,902 to the contiguous 51st/Archer Redevelopment Project to fund debt service for Phase II of the Modern Schools Across Chicago Bonds, Series 2010. In addition, the Project transferred $1,000,000 to the contiguous Stevenson/Brighton Redevelopment Project to fund the redevelopment agreement with Pulaski Promenade for their development located at 4064-4200 South Pulaski Road.
Midwest Note 4 – Operating Transfers In/Out
During 2016, in accordance with State statutes, the Project received $520,790 from the contiguous Madison/Austin Corridor Redevelopment Project to return the unused funds originally transferred in2011 for the intergovernmental agreement with the Board of Education for the rehabilitation of Austin High School. In addition, the Project transferred $3,320,791 to two contiguous Redevelopment Projects(Chicago/Central Park $1,691,199 and Madison/Austin Corridor $1,629,592) to fund debt service for Phase I of the Modern Schools Across Chicago Bonds, Series 2007 and $196,932 to the contiguous Chicago/Central Park Redevelopment Project to fund debt service for Phase II of the Modern Schools Across Chicago Bonds, Series 2010.
North/Cicero Note 2 – Surplus Distribution
In December 2015, the City declared a surplus within the fund balance of the Project in the amount of$13,000. In February 2016, the surplus funds were sent to the Cook County Treasurer’s Office to be redistributed to the various taxing agencies.
In December 2016, the City declared a surplus within the fund balance of the Project in the amount of$124,000. In February 2017, the surplus funds were sent to the Cook County Treasurer’s Office to be redistributed to the various taxing agencies.Note 3 – Operating Transfers Out
During 2016, in accordance with State statutes, the Project transferred $235,000 to the contiguous Austin Commercial Redevelopment Project to fund the Retail Thrive Zone Program, which provides support to spur economic development in the City.
Northwest Note 2 – Operating Transfers In/Out
During 2016, in accordance with State statutes, the Project received $520,790 from the contiguous Madison/Austin Corridor Redevelopment Project to return the unused funds originally transferred in 2011for the intergovernmental agreement with the Board of Education for the rehabilitation of Austin High School. In addition, the Project transferred $4,185,480 to three contiguous Redevelopment Projects(Chicago/Central Park $1,040,254, Galewood/Armitage Industrial $281,036 and Madison/Austin Corridor$2,864,190) to fund debt service for Phase I of the Modern Schools Across Chicago Bonds, Series 2007and $87,740 to the contiguous Galewood/Armitage Industrial Redevelopment Project to fund debt service for Phase II of the Modern Schools Across Chicago Bonds, Series 2010.
North Pullman During 2016, in accordance with State statutes, the Project received $8,108,005 from four contiguous Redevelopment Projects (Midwest $1,691,199, Kinzie Industrial Corridor $4,462,678, Pulaski Corridor $913,874 and Northwest Industrial Corridor $1,040,254) to fund debt service for Phase I of the Modern Schools Across Chicago Bonds, Series 2007 and $1,332,184 from two contiguous Redevelopment Projects (Kinzie Industrial Corridor $1,135,252 and Midwest $196,932) to fund debt service for Phase II of the Modern Schools Across Chicago Bonds, Series 2010. In addition, the Project received $250,000 from the contiguous Kinzie Industrial Corridor Redevelopment Project to fund the Retail Thrive Zone Program, which provides support to spur economic development in the City.
Peterson/Cicero In December of 2015 City declared a surplus of $105,000, and in February 2016 the surplus was redistributed. In December 2016 the City declared a surplus of $195,000 and in February 2017 the funds were redistributed.
Pilsen In December of 2015 City declared a surplus of $1,933,000, and in February 2016 the surplus was redistributed. In December 2016 the City declared a surplus of $1,209,000 and in February 2017 the funds were redistributed.
Portage Park In December of 2015 City declared a surplus of $395,000, and in February 2016 the surplus was redistributed. In December 2016 the City declared a surplus of $114,000 and in February 2017 the funds were redistributed.
Pulaski During 2016, in accordance with State statutes, the Project received $3,000,000 from two contiguous Redevelopment Projects (Division/Homan $2,500,000 and Humboldt Park Commercial $500,000) to fund the intergovernmental agreement with the Board of Education for the rehabilitation of the Marine Leadership Academy at Ames located at 1920 North Hamlin Avenue. In addition, the Project transferred $913,874 to the contiguous Chicago/Central Park Redevelopment Project to fund debt service for Phase I of the Modern Schools Across Chicago Bonds, Series 2007.
Ravenswood In December of 2015 City declared a surplus of $92,000, and in February 2016 the surplus was redistributed. In December 2016 the City declared a surplus of $5,000,000 and in February 2017 the funds were redistributed.
Read/Dunning In December of 2015 City declared a surplus of $992,000, and in February 2016 the surplus was redistributed. In December 2016 the City declared a surplus of $5,000,000 and in February 2017 the funds were redistributed.
River South During 2016, in accordance with State statutes, the Project transferred $4,600,000 to the contiguous 24th/Michigan Redevelopment Project to fund the intergovernmental agreement with the Board of Education for the construction of an athletic field adjacent to the National Teachers Academy located at 55 West Cermak Road, $2,400,000 to the contiguous 24th/Michigan Redevelopment Project to fund the intergovernmental agreement with the Public Building Commission for the construction of the Chinatown Branch Library located at 2101-15 South Archer Avenue and $4,310,000 to the contiguous 24th/Michigan Redevelopment Project to fund the intergovernmental agreement with the Board of Education for the construction of the National Teachers Academy located at 2220 South Federal Street.
River West In December 2015 City declared a surplus of $10,000,000 and in February 2017 the surplus was redistributed.
Roosevelt/Cicero During 2016, in accordance with State statutes, the Project transferred $995,762 to the contiguous Harrison/Central Redevelopment Project to fund the redevelopment agreement with Loretto Hospital for the rehabilitation of their facility located at 645 South Central Avenue.
Roosevelt/Racine In December 2015 City declared a surplus of $220,000 and in February 2016 this surplus was redistributed. In December 2016 the City declared a surplus of $114,600 and in February 2017 this surplus was redistributed.
Roseland/Michigan During 2016, in accordance with State statutes, the Project transferred $500,000 to the contiguous North Pullman Redevelopment Project to fund the redevelopment agreement with Chicago Neighborhood Initiatives Inc. for their Whole Foods development located near 107th/Doty Avenue.
Sanitary and Ship Canal During 2016, in accordance with State statutes, the Project transferred $1,000,000 to the contiguous Stevenson/Brighton Redevelopment Project to fund the intergovernmental agreement with the Board of Education for the construction of the Brighton Park II School located at 2611 West 48th Street.
South Chicago During 2016, in accordance with State statutes, the Project transferred $2,500,000 to the contiguous Lake Calumet Area Industrial Redevelopment Project to fund the Industrial Growth Zone Program that provides financial assistance for environmental assessment, remediation and site preparation activities.
Stevenson/Brighton In 2016 TIF received $1,000,000 from Sanitary Drainage & Ship Canal TIF t fund Brightpark II School, 2611 W 48th Street. Also received $1,000,000 from Midway Industrial Corridor TIF for Pulaski Promenade project at 4064-4200 S. Pulaski Road.
Stockyards Southeast In December 2015 City declared a surplus within this TIF in amount of $370,000 and funds were sent ot the Cook County Treasurer to be redistributed to various taxing agencies. In December 2016 City declared a surplus with this TIF in amount of $1,147,000. In February 2017 the surplus funds were redistributed.
Touhy/Western Project received $559,469 from Devon/Western TIF for debt service related to Modern Schools Across Chicago Bond Series 2007. In addition, received $1,347,580 from Devon/Western TIF for debt service for Phase II of Modern Schools Across Chicago Bond Series 2010.
West Irving Park During 2016, in accordance with State statutes, the Project transferred $831,913 to the contiguous Lincoln Avenue Redevelopment Project to fund debt service for Phase I of the Modern Schools Across Chicago Bonds, Series 2007. In addition, the Project transferred $920,000 to the contiguous Foster/California Redevelopment Project to fund the redevelopment agreement with Swedish Covenant Hospital located at 5140 North California Avenue and $2,144,830 to the contiguous Foster/California Redevelopment Project to fund the intergovernmental agreement with the Board of Education for the rehabilitation of Budlong School located at 2701 West Foster Avenue.
Western Avenue North Operating Transfers Out. During 2016 Project transferred $831,913 to Lincoln Avenue TIF for Modern Schools Across Chicago Bonds Series 2007. Also transferred $920,000 to Foster/California TIF for Swedish Covenant Hospital Project, and $2,144,830 to Foster/California TIF for Board of Ed for Budlong School.
%d bloggers like this: