CORTLAND AND CHICAGO RIVER

TAX INCREMENT FINANCING

REDEVELOPMENT AREA PROJECt AND PLAN

City of Chicago, Illinois

November 30, 2018

Revised March 7, 2019
Revised April 3, 2019

City ofChicago
Rahm Emanuel, Mayor

Department of Planning and Development

David Reifman, Commissioner
 1

This document details the changes made to the redevelopment plan for the Cortland/
Chicago River TIF district from the version dated 3/7/19 to the version dated 4/3/19. The
redevelopment plan is embodied in ordinance SO2019-2162 (known before passage as
O2019-2162).

Although the City Council approved the redevelopment plan on 4/10/19, the city did not
make the final version public until 4/18/19.

Material deleted from the 3/7/19 version is shown as strikethrough text. Material added
to the 3/7/19 version is shown as underlined text.

https://www.scribd.com/document/407519473/Changes-to-3-7-19-Cortland-Chicago-
River-TIF-district-redevelopment-plan

Inside Chicago Government (chigov.com) Cortland/Chicago River TIF Redevelopment Plan Changes
 2

Exhibit A of ordinance SO2019-2162:

"Substitute Ordinance of the city of Chicago, Illinois Approving a Redevelopment Plan
for the Cortland and Chicago River Redevelopment Project Area"

II. LEGAL DESCRIPTION AND PROJECT BOUNDARY

THENCE NORTHEASTERLY TO THE NORTHWEST CORNER OF LOT 34 IN
CLARKE AND THOMAS' SUBDIVISION OF LOTS 1 AND 2 LOT 4 IN BLOCK 8 9 OF
SHEFFIELD'S ADDITION TO CHICAGO AFORESAID ALSO BEING A POINT ON THE
EASTERLY RIGHT OF WAY LINE OF CLYBOURN AVENUE;

V. REDEVELOPMENT PROJECT
C. Redevelopment Improvements and Activities

3. Provision of Public Works or Improvements

The City may provide (or assist other public bodies in providing) public improvements
and facilities that are necessary to service the Project Area in accordance with this
Redevelopment Plan and the comprehensive plan for development of the City as a
whole. Public improvements and facilities may include, but are not limited to, the
following (collectively, the "Infrastructure Redevelopment Projects"):

a) Streets and Utilities

A range of roadway, utility and related improvement projects, from repair and
resurfacing to major construction or reconstruction, may be undertaken.
b) Parking and Transportation
Improvements to existing or construction of new public infrastructure and transportation
enhancements including commuter train station improvements, bicycle paths, bus
shelters, directional signage and other transportation improvements, off-street parking
sites and/or facilities and on-street parking improvements to ensure coordinated
vehicular movement and access.
c) Parks and Open Space
The development and construction of a range of new park and open space amenities
that can include passive and active recreation spaces, river trail and river walk
amenities.

"Armitage Avenue Extension and Bridge" shall mean the construction of a new roadway
and bridge in the public right-of-way between the existing Southport/Kingsbury
intersection running south west to the Chicago River on an alignment that would allow a
bridge connection across the river to align with the existing Armitage alignment west of
the river at Mendell and extend to Ashland.

Inside Chicago Government (chigov.com) Cortland/Chicago River TIF Redevelopment Plan Changes
 3

"Armitage Avenue Viaduct" shall mean the construction of improvements to structural

supports for the two railroad bridges that cross Armitage Avenue between Ashland and
the 90/94 freeway.

"Concord Place Extension, Bridge and Refurbishment" shall mean the construction of a
new roadway and bridge in the public right-of-way between the existing Concord
Place/Throop Street intersection running east to the Chicago River on an alignment that
would allow a bridge connection across the river to align with the existing Wisconsin
Street alignment east of the river at Kingsbury.

"Cortland Street Improvements" shall mean the refurbishment of existing and creation of
new public right-of-way from the east end of the Cortland Street Bridge at the Chicago
River east to Clybourn.

"Dominick Street Extension and Bridge" shall mean the construction of a new roadway
and bridge in the public right-of-way between the existing McLean/Dominick intersection
running south east to the Chicago River on an alignment that would allow a bridge
connection across the river to extend new Dominick on the south side of the river
crossing and from the south abutment of the Dominick Street Bridge south to extend into
existing Throop street.

"Elston Avenue Realignment & Viaduct" shall mean the realignment of existing Elston
Avenue at the existing intersection of Elston and Cortland, which includes the
construction of new or refurbished right-of-way through a portion of the Project Area and
along existing Mendell from Cortland Street to Ashland Avenue to connect to the
existing Elston Avenue.

"Kingsbury Street Extension/Improvements" shall mean the refurbishment of existing

and creation of new public right-of-way from the intersection of Southport and new
Armitage south east to Clifton Avenue.

"Sea Wall Improvements" shall mean the construction, replacement or repair of existing
sheet pile wall or river edge condition and/or construction of new properly stabilized river
edge condition in the Project Area.

"Southport Avenue Improvements (Kingsbury to Clybourn)" shall mean the

refurbishment of existing and creation of new public right-of-way from the intersection of
Southport at Clybourn Avenue south to the intersection of new Armitage Avenue and
Kingsbury Street then to Cortland.

"Wabansia Avenue and Willow Street Improvements (Elston to Throop)" shall mean the
refurbishment of existing public right-of-way from the intersection of Wabansia Avenue
and Elston Avenue northeast to the intersection of Wabansia Avenue and existing
Throop Street and the refurbishment of existing public right-of-way from the intersection

Inside Chicago Government (chigov.com) Cortland/Chicago River TIF Redevelopment Plan Changes
 4

of Willow Street and Elston Avenue northeast to the intersection of Willow Street and
existing Throop Street.

"606 Extension" shall mean the construction of a new paved path and bridge in a design
that is congruent with the existing 606 from the current terminus at Ashland Avenue
eastward towards Elston Avenue and along the existing railroad right-of-way across the
river.

"Public Open Space Development" shall mean the development and construction of a
range of new public park and open space amenities that can include passive and active
recreation spaces, river trail and river walk amenities.

"North Branch Transit Way" shall mean the development and construction of
infrastructure in the public right of way necessary to support transit service as well as
other multimodal accommodations between the North Branch Corridor and the Loop.

"Clybourn Metra Station Improvements" shall mean the rehabilitation of the existing
Clybourn Metra Station, including the potential relocation, development, and
construction of a new station to a location that could better accommodate current and
projected demand.

6. Day Care Services

Incremental Property Taxes may be used to cover the cost of day care services and
centers within the Project Area for children of low-income employees of Project Area
businesses or institutions.

Table 1. Estimated Redevelopment Project Costs

[5] All costs are in 2019 dollars and may be increased by five percent (5%) after
adjusting for inflation reflected in the Consumer Price Index (CPI) for All Urban
Consumers for All Items for the Chicago-Gary-Kenosha, IL-IN-Wl CMSA, published by
the U.S. Department of Labor, Additional funding from other sources such as federal,
state, county, or local grant funds may be utilized to supplement the City's ability to
finance Redevelopment Project Costs identified above.

E. Sources of Funds to Pay Redevelopment Project Costs

The City may utilize net incremental property taxes received from the Project Area to
pay eligible redevelopment project costs . . . in other contiguous redevelopment project
areas or project areas separated only by a public right-of-way, and vice versa (except
for the RPM Phase One Project Redevelopment Project Area which only does not
allows funds to be ported in to the Project Area).

Inside Chicago Government (chigov.com) Cortland/Chicago River TIF Redevelopment Plan Changes
 5

VIII. DEMAND ON TAXING DISTRICT SERVICES

A. Impact of the Redevelopment Project
and
B. Program to Address Increased Demand for Services or Capital Improvements

Board of Education. As stated above, vacant and underutilized properties are

redeveloped in accordance with the North Branch Framework Plan, up to 5,000 6,000
new residential units may be built in the area, generating approximately 247 333 public
pre-school through elementary school students and 123 117 public high school
students.

Inside Chicago Government (chigov.com) Cortland/Chicago River TIF Redevelopment Plan Changes