35th Ward Alderman Rey Colon is inviting the public to a community to give input about the proposed financial assistance for our project from the City's Fullerton-Milwaukee TIF District. TIF stands for Tax Increment Financing, which is a property-tax based funding tool which is being used to promote economic development in the Milwaukee Ave. commercial corridor. A portion of property taxes are set-aside into a fund to subsidize public improvements and private developments. We have requested $490,000 in assistance for our $3.4M project. We'll be using the money to redo our facade, install a green roof and add a passenger elevator to the building to make it fully handicapped accessible.
The community meeting will be held Wednesday, October 10th, 7pm at the Logan Square Branch Library, 3030 W. Fullerton Ave.