TIF Profile: Englewood Neighborhood

District Map

Date TIF Created: 6/27/2001 Termination Date: 6/27/2024 Size: 1200 Acres

TIF Plan Consultant: S.B. Friedman & Associates

TIFWorksELIGIBLE

Ward(s): 16, 17

Land Use:

Schools: Hayes APC (Transition Center E), Englewood, Proctor (Transition Center G), Bass, Nicholson, Copernicus, Holmes, Kershaw, Bontemps, Reed, Banneker, Woods
Community Area(s): West Englewood, Englewood
Initial EAV: $56,074,854.00
Current EAV (2004): $86,709,282.00
Fund Balance (2004): $3,929,854.00
Total Increment to Date (2004): $6,116,420.24

Total TIF Increment and EAV by Year
Year EAV Increment
2001 $64,395,470.00 $647,735.00
2002 $72,663,672.00 $1,207,168.00
2003 $89,268,936.00 $2,142,954.78
2004 $86,709,282.00 $2,118,562.46
Total Increment to Date (2003): $6,116,420.24

Bonds
Date IssuedDebt InstrumentPrincipalInterest Rate
 Tax Increment Allocation Note, Series 2004$1,500,000.008.50%

Estimated TIF Redevelopment Budget
Project Type Amount
Professional Services/Administration $800,000.00
Property Acquisition, Site Prep, Demolition, Environmental $1,000,000.00
Rehabilitation of Existing Buildings $17,400,000.00
Public Improvements $10,100,000.00
Relocation Expenses $1,100,000.00
Job Training $7,000,000.00
Financing/Interest Subsidy $6,000,000.00
Capital Costs of Taxing Dist.
Day Care $1,000,000.00
Eligible Construction Costs $30,600,000.00
Total: $75,000,000.00