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  • TIF Profile-26th and Kostner

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    Valerie F. Leonard
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    The 26th/Kostner TIF was created in 1998 to redevelop 48 acres of industrial, commercial, and residential land in the South Lawndale community area. Over the years, the TIF has generated $71,919.75 in tax increment. The TIF budget estimates spending $26.65 million on professional services, property acquisition and site preparation, public improvements, and job training to redevelop the area before the TIF expires in 2021.

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    The 26th/Kostner TIF was created in 1998 to redevelop 48 acres of industrial, commercial, and residential land in the South Lawndale community area. Over the years, the TIF has generated $71,919.75 in tax increment. The TIF budget estimates spending $26.65 million on professional services, property acquisition and site preparation, public improvements, and job training to redevelop the area before the TIF expires in 2021.

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    5 views2 pages

    TIF Profile-26th and Kostner

    Uploaded by

    Valerie F. Leonard
    The 26th/Kostner TIF was created in 1998 to redevelop 48 acres of industrial, commercial, and residential land in the South Lawndale community area. Over the years, the TIF has generated $71,919.75 in tax increment. The TIF budget estimates spending $26.65 million on professional services, property acquisition and site preparation, public improvements, and job training to redevelop the area before the TIF expires in 2021.

    Copyright:

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    Download as PDF, TXT or read online from Scribd
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    TIF Profile: 26th/Kostner

    District Map

    Date TIF Created: 4/29/1998 Termination Date: 4/29/2021 Size: 48 Acres

    TIF Plan Consultant: Louik/Schneider & Associates Land


    Use:
    Industrial
    TIFWorksELIGIBLE
    Commercial
    Ward(s): 22

    Residential

    Schools: None

    Community Area(s): South Lawndale

    Initial EAV: $2,834,583.00 Fund Balance (2004): $47,213.00


    Current EAV (2004): $3,305,761.00 Total Increment to Date
    $71,919.75
    (2004):

    Total TIF Increment and EAV by Year


    Year EAV Increment

    1998 $2,694,227.00 $0.00

    1999 $2,781,482.00 $0.00

    2000 $3,078,020.00 $18,959.00

    2001 $3,118,813.00 $21,863.00

    2002 $2,564,149.00 $0.00

    2003 $2,624,445.00 $0.00

    2004 $3,305,761.00 $31,097.75

    Total Increment to Date (2003): $71,919.75

    Estimated TIF Redevelopment Budget


    Project Type Amount
    Professional Services/Administration $650,000.00

    Property Acquisition, Site Prep, Demolition, Environmental $11,000,000.00

    Public Improvements $10,000,000.00

    Job Training $5,000,000.00

    Total: $26,650,000.00

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