MAR 21, 2022
R2 Companies and Blue Star Properties’ proposal to redevelop the Morton Salt shed near Goose Island into a concert venue received historic tax credits from the City Council last year. Aldermen are now set to approve $4.5 million in tax-increment financing for public infrastructure work around the site.
Aldermen are scheduled on Monday to slip in a last-minute bid to extend a controversial anti-gentrification measure in two of the city’s most rapidly changing neighborhoods.
The two-year extension of the city’s demolition fees in Pilsen and the Northwest Side area surrounding the 606 Bloomingdale Trail is one of multiple items set for consideration during a 10 a.m. meeting of the City Council Committee on Finance on Monday, including $3.5 million in tax-increment financing for public infrastructure around a prominent theater renovation project near Goose Island and another nearly $20 million for school-related infrastructure projects.
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