CHICAGO | The 78 Site

[build_tall_chicago]

Is it considered on topic to complain about the $425M TIF money omitting the red line stop and instead adding a 1200 space parking complex funded through the TIF which apparently will just hold money to pay for it's own maintenance and considering that, not make city any money overall? Also the whole Riverline development here just on the north as well AND the Metra yards across the river bought by Ishbia, is there plans to connect this swath of land to public transportation? The Ishbia part is across the river and is far far out so maybe not considering that

[Bonsai Tree]

Originally Posted by sentinel

?? I can't tell if you're joking or not..

I am most certainly not joking. That is not a taxpayer expense. Related should be paying for that.

[k1052]

Originally Posted by build_tall_chicago

Is it considered on topic to complain about the $425M TIF money omitting the red line stop and instead adding a 1200 space parking complex funded through the TIF which apparently will just hold money to pay for it's own maintenance and considering that, not make city any money overall? Also the whole Riverline development here just on the north as well AND the Metra yards across the river bought by Ishbia, is there plans to connect this swath of land to public transportation? The Ishbia part is across the river and is far far out so maybe not considering that

I think he's still going to try to get a new park on to the 78 first and the Amtrak yard is the backup. The Fire needs to get their field built first and the Bears saga needs to end probably before they seriously engage.

[ardecila]

Originally Posted by Bonsai Tree

I am most certainly not joking. That is not a taxpayer expense. Related should be paying for that.

It’s not even the “taxpayer money” thing that bothers me per se. The original 78 plan to generate TIF revenues on site is fine, and was essentially a backdoor property tax break.

Instead, the city is just blatantly taking money from West Loop’s TIF and spending it here. That will make it harder to finance some *actually important* projects that benefit the entire city and region, like the long-term Union Station rehab and the bus terminal. Insanely misplaced priorities.