Alderman approves funding for RP theater
Alderman Joe Moore has decided to support using $200,000 in public funds to restore the Village North Theater in Rogers Park.
Moore's approval is a key step for the project, which will use money from the area's tax increment financing district to replace the theater's facade and make other improvements to the building, which also houses a Thai restaurant, a Starbucks, and a bank.
The building is located at 6738-46 N. Sheridan.
TIF districts are established to fund improvements in areas suffering from blight. The
TIF diverts a portion of property taxes generated in the district to
Moore decided to support the project after a ward meeting earlier this month.
"Most people, regardless of their position on TIFs, supported the project. I wasn't surprised," says Moore.
Alderman Moore says he's in favor of the project because it beats the alternative -- tearing down the theater and creating a mid-rise building.
"It's an appropriate use of my dollars. I think Columbia and Sheridan will have a crown jewel," Moore says.
The use of TIF funds must still be approved by the full City Council.
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