According to a department of planning and development budget, $8million would be sent on site preparation, $7.3 million torehabilitate buildings and $3 million on public improvements. Thenewly-created TIF district would cover 325 acres southwest of theold Chicago stockyards.
The northern portion of the TIF district includes industrial andcommercial properties, with residential uses predominantly on thesouthern portion of the area. The city already owns numerousresidential lots south of 47th Street, department of planning anddevelopment officials say.
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