TIF proposal stirs residents of Austin

Several dozen residents of the Austin neighborhood came out Tuesday to the Community Development Commission monthly meeting, looking for answers about the proposed TIF in their neighborhood.

The Austin Commercial TIF, which was approved by the committee, was proposed after a community analysis found 97 percent of the buildings in the area to be more than 35 years old, said Dante Hall of the Chicago Department of Planning and Development, who gave a presentation Tuesday. The analysis also found evidence of deterioration, obsolescence, lack of community planning, lack of growth and the presence of buildings below minimum standards, he said.

The TIF, which has a $50 million budget, is designed to reduce or eliminate these conditions and support public and private improvements in the area, Hall said.

Concerns among residents ranged from the lack of maintenance of city-owned lots to the prospect of redevelopment excluding the neighborhood’s African-American population.

“I’m asking that you allow us, the African-American community, to be represented in Austin,” said homeowner Ricky Brown.

Residents expressed confusion over how the money would be allocated in the community.

“We don’t get the same services that other neighborhoods get,” said Austin resident Samuel Huntley. “You need to go into depth, and tell us how we’re going to be impacted by these taxes.”

Others worried that none of the money from the proposed TIF would be used to aid existing business owners, although Hall said that a small-business-improvement fund is being considered for this TIF to help rehabilitate existing businesses.

A TIF (tax increment financing) puts a cap on property taxes paid in the TIF’s outlined geographic area for a period of time, usually 23 years. All taxes collected in excess of the cap during the life of the TIF are channeled into the TIF fund, which is used for redevelopment and community improvement projects within the district.

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