South Works Planned Developement Set for TIF Infusion

The Chicago City Council may once again turn to controversial tax-increment financing (TIF) to help pay for the redevelopment of the years-dormant South Works property. On Tuesday, the Council’s Community Development Commission voted unanimously in support of pledging $96 million to finance the first phase of a massive overhaul of the former U.S. Steel plant on the city’s south side. If approved by the full Council, the South Works TIF would be the City’s largest ever subsidy of private development.
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