Wednesday, September 05, 2012
TIF Vacant Building Rehab Ordinance
The TIF Vacant Building Rehab Ordinance final passed the city council in July and there is 1 million available for rehab work but only in one TIF District so far, Ogden Pulaski District. Read more about it:
http://www.chicagohomeless.org/an-amended-tif-vacant-building-rehab-ordinance-passes-city-council-along-with-first-1-million-in-funding/
The new ordinance allows property owners to bundle several two and three flats together for one rehab development. I think this should make the project more appealing as most of the vacant building are smaller properties.
Or to see the exact boundaries of the Ogden Pulaski TIF District:
http://www.cityofchicago.org/dam/city/depts/dcd/tif/narratives/T_161_OgdenPulaskiFA.pdf
http://www.chicagohomeless.org/an-amended-tif-vacant-building-rehab-ordinance-passes-city-council-along-with-first-1-million-in-funding/
The new ordinance allows property owners to bundle several two and three flats together for one rehab development. I think this should make the project more appealing as most of the vacant building are smaller properties.
Or to see the exact boundaries of the Ogden Pulaski TIF District:
http://www.cityofchicago.org/dam/city/depts/dcd/tif/narratives/T_161_OgdenPulaskiFA.pdf
