The Bronzeville Tax Increment Financing (TIF) district will be amended through a land use plan approved today by City Council.
The plan would be changed to reflect the anticipated commercial and residential redevelopment of two industrial buildings at 100-08 W. 26th St. and 2556 S. Federal St. on the Near South Side. The properties are currently identified in the plan for primarily light manufacturing uses.
Established in 1998 and encompassing portions of the Douglas and Grand Boulevard communities, the Bronzeville TIF district was designated to revitalize an area that once served as the social, cultural and economic center of Chicago's African-American community. The 491-acre district provides resources that support the rehabilitation of existing structures and incentives for new construction on vacant and underutilized land. Priorities include an increase of rental and owneroccupied residential structures, historic preservation, business expansion, and cultural projects that promote the area's attractiveness as a place to live and do business.
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