CHICAGO (COOK COUNTY)contract

Contract 4671: North & Cicero TIF Funding and Land Transfer

Original title: Contract 4671: CHICAGO TRANSITY AUTHORITY. — COMPTROLLER-OTHER (Chicago, IL)

November 2, 2009

transportation economic development TIF real estate city contracts

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The Frame

What this does

This agreement directs $1,445,000 in Tax Increment Financing (TIF) funds toward a specific commercial development project and changes the ownership of public transit land to a private entity.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Chicago Transit Authority

The agency is transferring land to a developer and receiving TIF funding for the project.

Department of Planning & Development

The department is responsible for the administration of the TIF funding and the oversight of the development project.

What changed

Last recorded activity November 2, 2009.

What's next

Next step not available in the current record.

Summary

This contract outlines a $1.445 million funding agreement between the City of Chicago and the Chicago Transit Authority (CTA) to support a shopping center development at North and Cicero. It also facilitates the transfer of CTA-owned land to a private developer.

Key Facts

The contract provides $1,445,000 in TIF funding for a shopping center development at the intersection of North and Cicero.
The agreement includes the transfer of land currently owned by the Chicago Transit Authority to a private developer.
The contract was approved on November 2, 2009.
The contract term spans 20 years, beginning November 24, 1999, and ending November 24, 2019.
The contract is categorized as 'COMPTROLLER-OTHER' under the Department of Planning & Development.
The vendor is identified as the Chicago Transit Authority.

Why It Matters

This agreement directs $1,445,000 in Tax Increment Financing (TIF) funds toward a specific commercial development project and changes the ownership of public transit land to a private entity.

Frequently Asked Questions

What is the purpose of this contract?

The contract facilitates the use of TIF funds for a shopping center development and the transfer of CTA land to a developer.

How much money is involved?

The award amount is $1,445,000.

Who is the developer receiving the land?

The document identifies the CTA as the vendor but does not explicitly name the private developer receiving the land.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

temporal pattern90% confidence

Backdated Contract Start

The contract was approved in 2009, but the start date is listed as 1999, suggesting a retroactive agreement or a long-term extension of a previous arrangement.

Chicago Transit Authority

Connected Entities

locationChicago, IL“The jurisdiction of the contract.”Map →

organizationDepartment of Planning & Development“The city department overseeing the contract.”Map →

organizationChicago Transit Authority“The vendor and land owner involved in the transfer.”Map →

Sources

Open source document

data.cityofchicago.org

Analysis Score

0–100

Significance60
How much this matters to a regular citizen
Controversy40
Intensity of disagreement among stakeholders
Entertainment10
Compellingness for a non-policy-wonk reader
Buzz15
Current news / social attention level

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