Before a TIF is created, the City commissions an eligbility study to determine whether or not an area qualifies for TIF designation. If an area is eligible, the City develeops a redevelopment plan with specific 23 year goals and objectives and a redevelopment budget. Outlined below are descriptions of each TIF that impacts North Lawndale, and a link to a PDF file for its redevelopment plan. The source of this information is the City of Chicago Department of Housing and Economic Development website.
Encompassing land surrounding the former Sears Roebuck and Co. headquarters complex in the North Lawndale community, the Homan/Arthington TIF is designed to promote mixed-use redevelopment and to assist new construction projects on vacant and underutilized land. Goals include the creation of mixed-income housing and the rehabilitation of the former Sears administration building for mixed commercial uses. Funds are also targeted for public infrastructure improvements, and land assembly and preparation. Click Here