Main & Chicago TIF
The Chicago/Main Tax Increment Financing (TIF) district #8 was approved in January 2013. The goal of this TIF district is to support the continued development of the thriving business district located near the intersection of Chicago Avenue and Main Street.
Approved Chicago/Main Tax Increment Financing District
As one of Evanston’s oldest commercial districts, TIF will permit the City to make crucial infrastructure investments that will ensure the sustainability of this district for decades to come. The TIF district also affords the opportunity to take advantage of the opportunity to improve the connectivity between the CTA and Metra stations. A map of the district shows the approved Chicago/Main TIF boundary and the properties to be included in the TIF district.
The designation of a TIF district is a multi-step process. TIF is an economic development tool utilized by municipalities to improve aging infrastructure, assist in redevelopment efforts, and reduce obsolescence in older neighborhoods. Per Illinois State statute, the City is required to document physical conditions within the district prior to TIF district designation to determine qualification for a TIF district. This information is compiled into a draft Redevelopment Plan. The City also is required to adopt three ordinances to establish the district. These ordinances were introduced at the December 10, 2012 City Council meeting and were adopted at the January 28, 2013 City Council meeting.
City Council approved the Main/Chicago Implementation Plan that calls for the development of a Mayoral-Appointed seven-member Advisory Committee that will review all proposed expenditures within the TIF District and make non-binding recommendations to City Council. This Committee is currently under formation.
For Additional Information, please contact:
3rd Ward Alderman
Economic Development Coordinator
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