City To Allocate $59 Million In TIF Money For New South Loop School

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An intergovernmental agreement between the city and the Chicago Board of Education introduced at Wednesday’s City Council meeting would allocate up to $48 million from the River South Tax Increment Financing (TIF) district to construct a new elementary school in the South Loop, bringing the city’s total TIF investment in the project to $59 million. It’s one of the biggest investments of TIF for a single school construction in Mayor Emanuel’s tenure.

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