TIF Profile: Pilsen Industrial Corridor

District Map
Date TIF Created: 6/10/1998	Termination Date: 6/10/2021	Size: 907 Acres
TIF Plan Consultant: Trkla, Pettigrew, Allen & Payne, Inc. TIFWorksELIGIBLE Ward(s): 2, 11, 12, 25		Land Use:	Industrial Commercial Residential
Schools: Juarez, Perez, Whittier, De La Cruz
Community Area(s): Lower West Side, Armour Square, McKinley Park, Bridgeport
Initial EAV: $111,203,219.00 Current EAV (2004): $209,946,086.00 Fund Balance (2004): $44,351,056.00 Total Increment to Date (2004): $23,246,492.40

Total TIF Increment and EAV by Year

Year	EAV	Increment
1998	$117,911,704.00	$628,344.00
1999	$121,790,686.00	$928,545.00
2000	$144,061,192.00	$2,738,793.00
2001	$145,923,603.00	$2,790,160.00
2002	$164,206,286.00	$3,998,085.00
2003	$197,501,858.00	$5,617,672.37
2004	$209,946,086.00	$6,544,893.03
Total Increment to Date (2003):		$23,246,492.40

Redevelopment Agreements

Date Authorized: 10/06/2005 Units of Affordable Housing: 0 Developer: Target Corporation Description:  construction of retail shopping facility ( 139,000 sq ft) w/ parking Private Investment: Promised Jobs Created: TIF Assistance: $5,300,000.00 Promised Jobs Retained:

Date Authorized: 10/31/2001 Units of Affordable Housing: 0 Developer: Steiner Corp. (American Linen) Description:  Construct 161,000 square-foot industrial linen supply company and rehab 10,000 SF of office; use a tax increment allocation revenue note Private Investment: $21,678,110.00 Promised Jobs Created: 70 TIF Assistance: $3,560,000.00 Promised Jobs Retained: 200

Date Authorized: 03/28/2001 Units of Affordable Housing: 0 Developer: Chicago International Produce Market LLC/Center Point Realty Services Description:  436,224 square foot facility to be used as a warehouse and distribution facility for produce industry; two-phase project; Chgo Int'l Produce Market LLC and CenterPoint Realty Services acquired site Private Investment: $37,639,816.00 Promised Jobs Created: 0 TIF Assistance: $9,500,000.00 Promised Jobs Retained: 428

Bonds

Date Issued	Debt Instrument	Principal	Interest Rate
	Tax Increment Allocation Revenue Note (Pilsen Redevelopment Project Area)	$3,560,000.00	8.5%
	Tax Increment Allocation Bonds (Pilsen Redevelopment Project) Series 2003	$85,000,000.00	9%
	Pilsen Junior Lien Tax Increment Allocation Revenue Bonds, Series 2004B	$26,595,000.00	6.75%

Developer Notes

Date Authorized	Note	Principal	Interest Rate
11/12/2003	Tax Increment Allocation Bonds (Pilsen Redevelopment Project) Series 2003	$85,000,000.00	9%
12/31/2001	Tax Increment Allocation Revenue Note (Pilsen Redevelopment Project Area)	$3,560,000.00	8.5%

Estimated TIF Redevelopment Budget

Project Type	Amount
Professional Services/Administration	$3,000,000.00
Property Acquisition, Site Prep, Demolition, Environmental	$29,000,000.00
Rehabilitation of Existing Buildings	$12,000,000.00
Public Improvements	$52,000,000.00
Relocation Expenses	$3,000,000.00
Job Training	$9,000,000.00
Financing/Interest Subsidy	$6,000,000.00
Day Care	$1,000,000.00
Total:	$115,000,000.00