TIF Profile: 95th/Stony Island

District Map

Date TIF Created: 5/16/1990 Termination Date: 5/16/2013 Size: 76 Acres

TIF Plan Consultant: Trkla, Pettigrew, Allen & Payne, Inc.

TIFWorksELIGIBLE

Ward(s): 7, 8

Land Use:

Schools: None
Community Area(s): Pullman, South Deering
Initial EAV: $2,622,436.00
Current EAV (2004): $19,509,853.00
Fund Balance (2004): $1,639,163.00
Total Increment to Date (2004): $6,196,128.82

Total TIF Increment and EAV by Year
Year EAV Increment
1991 $3,796,410.00 $137,612.00
1992 $3,865,595.00 $146,970.00
1993 $3,959,940.00 $154,820.00
1994 $4,167,156.00 $171,265.00
1995 $4,509,928.00 $204,825.00
1996 $3,969,174.00 $187,173.00
1997 $4,057,267.00 $181,147.00
1998 $4,021,776.00 $178,248.00
1999 $3,798,480.00 $151,630.00
2000 $12,660,241.00 $789,307.00
2001 $14,157,642.00 $893,571.00
2002 $15,095,442.00 $924,849.00
2003 $17,984,528.00 $1,001,943.94
2004 $19,509,853.00 $1,072,767.88
Total Increment to Date (2003): $6,196,128.82

Redevelopment Agreements
Date Authorized: 04/01/1998 Units of Affordable Housing: 0
Developer: 95th-Stony LLC
Description:  180,000 sq. ft. "community retail center," 79,500 sq. ft. Jewel/Osco, 109,000 sq. ft. for retail and restaurants, and 830 parking spaces.
Private Investment: $21,938,203.00 Promised Jobs Created: 400
TIF Assistance: $7,025,000.00 Promised Jobs Retained: 0

Bonds
Date IssuedDebt InstrumentPrincipalInterest Rate
 Developer Note$1,625,000.009%

Developer Notes
Date AuthorizedNotePrincipalInterest Rate
12/01/1998Developer Note$1,625,000.009%

Estimated TIF Redevelopment Budget
Project Type Amount
Professional Services/Administration $72,000.00
Property Acquisition, Site Prep, Demolition, Environmental $10,170,000.00
Public Improvements $2,462,500.00
Financing/Interest Subsidy $2,500,000.00
Total: $15,204,500.00