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The City of Evanston is holding a TIF public forum at 7 p.m. Thursday, Sept. 9 in the multipurpose room of the Fleetwood-Jourdain Center, 1655 Foster St.
The City Council is seeking public input as it considers the creation of the proposed Tax Increment Finance District #9, also known as the Five-Fifths TIF.
In a TIF district, the tax increment – the difference between the property tax revenues on the land as it went into the TIF and as improved – remain within the TIF to be used for public projects.
A newsletter from Fifth Ward Council member Bobby Burns states that this TIF is unique in nature as it is designed to explicitly support homeowners and existing landlords in preserving and improving existing residential properties to help maintain culture, community and independent minority-owned businesses.
City staff is proposing that Five-Fifths TIF funding be used strategically and narrowly on the following categories:
- Residential repairs/improvements
- Affordable housing
- Workforce development
- Public infrastructure improvements
- Public spaces (Fleetwood-Jourdain Center expansion/improvements)
- Business district improvement
At the public forum, attendees with questions will be prioritized and time at the end will be reserved for public statements.