The nearly $30 million complex is funded by title sponsor Deaconess Health System and many other private-sector donors. Public financing sources include the city's Jacobsville Tax Increment Finance District and hotel room tax revenues. 

Typically, the city uses TIF funds to assist developers with their projects and pay for public infrastructure. The plan instead calls for directing the bulk of the funding to housing assistance programs for the approximately 5,000 property owners in the four census tracts bordering the 120-acre business park at 36th Street North and Peoria Avenue.

Mayor Lori Lightfoot's $12.8 billion spending plan for 2021 is close to passing, and includes $350 million in tax increment financing programs to help close the budget gap for 2021. The TIF surplus would provide $76 million for the city's corporate fund and $167 million for the Chicago Public Schools, though Lightfoot is also calling on CPS to reimburse the city for $40 million in school pension contributions the city typically makes for the district.

CityPlace Burlington developer Don Sinex and his three local partners have a new plan to get the money they need to build their project and fill the empty pit in downtown Burlington left by the demolition of the Town Center mall. The first step for Sinex and his new partners in their quest for union financing is to secure approval from the U.S. Department of Housing and Urban Development for the CityPlace project.

Growth from King's Pointe Resort to the city's industrial areas is outpacing the City of Storm Lake's losses caused by state-mandated valuation rollbacks, a development local economic development officials describe as nothing short of a miracle.

When complete, The Peninsula will be a mixed-use neighborhood with up to 1,800 residential units, 2 million square feet of office space, and 400 hotel rooms developed over the next 10 to 15 years. Phase 1 of the project is supported by a $7.22 million New Community Authority & Tax Increment Financing-backed infrastructure bond for funding public roads and utilities, as well as capital lease structures.

The village is moving forward on adjusting a tax incremental finance district, paving the way to add more property to a TIF district to allow for development assistance. The board had approved a contract for Ehlers to analyze the possible development and options for how it could be assisted through TIF districting or other means.

The first round of bonds for this project, which were approved in December, have yet to be sold to finance the elaborate tax increment financing deal first approved by Baltimore officials in 2016. Some $148 million of the $660 million in bonds meant to build the infrastructure for the project — to be repaid by the developer through future taxes — were scheduled to be sold in February.

CDFA // BNY Mellon Development Finance Webcast Series: Educational Facilities Funding Solutions
Tuesday, December 15, 2020 - 1:00 PM Eastern

Fundamentals of Economic Development Finance WebCourse
January 27-28, 2021 - Daily: 12:00 - 5:00 PM Eastern

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