Uptown residents will have an opportunity later this week to discuss a proposal that would nearly double the amount of money available to the controversial Wilson Yard TIF district.
The proposal comes from Ald. Helen Shiller (D-46), who will be on hand for the Thursday meeting, along with members of the Wilson Yard Task Force.
“The amendment does two main things,” says Shiller spokeswoman Maggie Marystone. “It increases the budget of the TIF to $112 million from $58 million, and there are [five] parcels of land that we would like to put on the city's acquisition map.”
The properties mentioned by Marystone include three vacant lots on the 4400 block of Sheridan Road, which would ideally be used for parking purposes.
“There are some businesses in that area on Broadway and Sheridan that have expressed a need for more parking,” Marystone says.
The city would also seek to purchase the now vacant former Salvation Army building across the street from the Wilson Yard development and an adjacent lot also owned by the Salvation Army. The buildings would be used for a green technology center program. The initiative could possibly be a joint project in collaboration with the 6th ward.
Marystone stressed, “The TIF amendment doesn’t spell out what will go into projects, it just seeks authority to acquire properties.”
The public meeting is scheduled for 8 a.m. Thursday. We'll be covering it. In the meantime, let us know if you have thoughts on the expansion.