TIF Profile: Near North

District Map
Date TIF Created: 7/30/1997	Termination Date: 7/30/2020	Size: 340 Acres
TIF Plan Consultant: Camiros, Ltd. TIFWorksELIGIBLE Ward(s): 27		Land Use:	Industrial Commercial Residential
Schools: Near North, Payton, Walter, Hernandez (Transition Center F), Byrd, Franklin, Jenner, Manierre, Schiller, Salazar Center, Truth
Community Area(s): Near North Side
Initial EAV: $41,675,843.00 Current EAV (2004): $208,339,878.00 Fund Balance (2004): $22,108,426.00 Total Increment to Date (2004): $38,951,171.27

Total TIF Increment and EAV by Year

Year	EAV	Increment
1997	$49,369,678.00	$709,768.00
1998	$57,726,910.00	$1,458,108.00
1999	$67,323,344.00	$2,284,570.00
2000	$93,440,956.00	$4,106,084.00
2001	$104,637,866.00	$4,916,658.00
2002	$128,008,438.00	$6,342,994.00
2003	$175,267,008.00	$8,630,686.29
2004	$208,339,878.00	$10,502,302.98
Total Increment to Date (2003):		$38,951,171.27

Redevelopment Agreements

Date Authorized: 09/14/2005 Units of Affordable Housing: 29 Developer: River Village Townhomes South LLC Description:  constuction of 119 residential inits Private Investment: Promised Jobs Created: TIF Assistance: $2,816,445.38 Promised Jobs Retained:

Date Authorized: 06/29/2005 Units of Affordable Housing: 96 Developer: Lafefront Supportive Housing/ Near North Limited Partnership Description:  constuct 96 single unit (45,810 sqft) for occupancy by low and very low income residents Private Investment: Promised Jobs Created: TIF Assistance: $100,000.00 Promised Jobs Retained:

Date Authorized: 12/15/1999 Units of Affordable Housing: 130 Developer: North Town Village, LLC Description:  (1)116 rental units, 39 rented to CHA, 39 more will be affordable to households @ or below 60% of area median income; (2) 145 for sale units, 93 @ market, 12 sold to households @ 120% of median, 40 leased to CHA. Private Investment: $46,400,000.00 Promised Jobs Created: 0 TIF Assistance: $8,600,000.00 Promised Jobs Retained: 0

Date Authorized: 11/17/1999 Units of Affordable Housing: 0 Developer: Chicago Public Schools/Walter Payton College Prep Description:  $11,250,000 million for Walter Payton College Prep 135,000 sq. ft. @ total cost of $31,000,000. Private Investment: $0.00 Promised Jobs Created: 0 TIF Assistance: $7,295,521.00 Promised Jobs Retained: 0

Date Authorized: 11/17/1999 Units of Affordable Housing: 0 Developer: Chicago Public Schools/Jenner Elementary Description:  $7,600,000 for Jenner Academy; 36 classrooms, 96,000 sq. ft. @ total cost of $19,272,247. Private Investment: $0.00 Promised Jobs Created: 0 TIF Assistance: $7,564,383.00 Promised Jobs Retained: 0

Bonds

Date Issued	Debt Instrument	Principal	Interest Rate
	Senior Lien Tax Increment Allocation Bonds (Near North Redevelopment Project) Taxable Series 1999B	$10,100,000.00	6.89%
	Tax Increment Allocation Bonds (Near North Redevelopment Project) Series 1999A - Unissued Portion of Authorization	$44,900,000.00	5.084%

Estimated TIF Redevelopment Budget

Project Type	Amount
Professional Services/Administration	$8,000,000.00
Property Acquisition, Site Prep, Demolition, Environmental	$65,000,000.00
Rehabilitation of Existing Buildings	$35,000,000.00
Public Improvements	$75,000,000.00
Relocation Expenses	$10,000,000.00
Job Training	$10,000,000.00
Financing/Interest Subsidy	$38,000,000.00
Capital Costs of Taxing Dist.	$40,000,000.00
Total:	$281,000,000.00