Pulaski Corridor TIF At-A-Glance

SOURCE: 2008 Annual Report. For a copy of the full report and audited financial statement,

contact the Department of Community Development.

1999

2022

$10,603,217

$4,082,010

$2,082,614

1.5 to 1

$82.8 million

$121.2 million(46% increase since 1999)

AUTHORIZED

EXPIRES

TOTAL NET BALANCE (INCLUDES FUNDS FOR FUTURE PROJECTS), FY08

REVENUE COLLECTED, FY08

TOTAL EXPENDITURES, FY08

RATIO OF PRIVATE TO PUBLIC INVESTMENT WITH TIF

ESTIMATED ASSESSED VALUE IN TIF AREA, 1999

ESTIMATED ASSESSED VALUE IN TIF AREA, 2005

The Pulaski Corridor TIF DistrictBenefitting Hermosa, Avondale, Logan Square, and Humboldt Park

Pulaski Corridor TIF Overview

The Pulaski Corridor TIF is characterized by older

industrial and commercial properties along Pulaski Road

and Fullerton, North and Grand avenues, and mostly

industrial properties along the former Chicago, Minneapolis,

St. Paul railroad right-of-way. Encompassing portions of

the Hermosa, Avondale, Logan Square and Humboldt Park

communities, the 383-acre TIF is intended to foster new

construction and rehabilitation projects that create jobs and

enhance the area’s viability for additional private investment.

Priorities include land assembly initiatives, rehabilitation

efforts, and public works improvements that facilitate traffic

flow, and enhance public transit amenities.

NORTH AVE

FULLERTON AVE

WABANSIA AVE

ARMITAGE AVE

BLOOMINGDALE AVE

KO

STNER

AVE

KILD

AR

EAVE

PALMER ST

CORTLAND ST

KIMBA

LLAVE

GRANDAVE

LAM

ON

AVE

CENTR

ALPA

RK

AVE

DICKENS AVE

KILDAR

EAVE

AVERS

AVE

TRIPP

AVE

PULASK

IR

D

KEELERAVE

KILPATRIC

KAVE

DRA

KEAVE

WRIGHTWOOD AVE

KAR

LOV

AVE

KEDVA

LEAVE

TRO

YST

KEYSTON

EAVE

SPA

ULD

ING

AVE

GEORGE ST

HAR

DING

AVE

WH

IPPL

EST

KENN

ETHAVE

MO

NTIC

ELLO

AVE

POTOMAC AVE

HUM

BOLD

TBLVD

BEACH AVE

MO

ZAR

TST

PIERCE AVE

CRYSTAL ST

BARRY AVE

MCLEAN AVE

STLO

UIS

AVE

RICHM

ON

DST

KEDZIE

BLVD

MELROSE ST

FRA

NCISC

OAVE

KAMERLING AVE

WELLINGTON AVE

EVERGREEN AVE

NELSON ST

LE MOYNE ST

KNO

XAVE

KOLIN

AVE

ALLEN

AVE

KOLM

AR

AVE

BER

NA

RDST

SHAKESPEARE AVE

DAWSO

NAV

E

HIRSCH ST

GRESHAMAVE

DRUMMOND PL

WOODARD

ST

DIVERSE Y AVE

ST PAUL AVE

WIS

NERAV

E

DEMING PL

MEDILL AVE

CONCORD PL

ELBRIDGE AVE

FLETCHER ST

WOLFRAM ST

KENTO

NAVE

TRIPP

AVE

PARKER AVE

OAKDALE AVE

LOW

ELLAVE

RID

GEW

AYAV

E

EMMETTST

SPRIN

GFIELD

AVE

MOFFAT ST

ALBAN

YDR

LAM

ON

AVE

ALTGELD ST

MO

NTICELLOAVE

ALTGELD ST

WH

IPPLEST

HAM

LIN

AVE

KEATING

AVE

SPRIN

GFIELD

AVE

RID

GEW

AYAV

E

TRO

YST

OAKDALE AVE

BARRY AVE

CRYSTAL ST

PULASK

IR

D

LAW

ND

ALE

AVE

KOLM

AR

AVE

HOMER ST

POTOMAC AVE

KOLM

AR

AVE

CONCORD PL

NORTH AVE

KEATING

AVE

WRIGHTWOOD AVE

KEATING

AVE

AVERSAVE

LYNDALE ST

BELDEN AVE

PARKER AVE

RIDG

EWAY

AVE

STLO

UIS

AVE

SHAKESPEARE AVE

KENN

ETHAVE

SAW

YER

AVE

KILBOUR

NAVE

LOW

ELLAVE

KILPATRIC

KAVE

MCLEAN AVE

STLO

UIS

AVE

MO

NTIC

ELLO

AVE

ALB

ANY

AVE

GEORGE ST

PALMER ST

MEDILL AVE

SCHUBERT AVE

NELSON ST

POTOMAC AVE

PARKER AVE

LYNDALE ST

HIRSCH ST

LAWN

DALE

AVE

SHAKESPEARE AVE

DIVERSE Y AVE

MCLEAN AVE

SCHUBERT AVE

AVERSAVE

LE MOYNE ST

HIRSCH ST

HAM

LINAVE

KAR

LOV

AVE

MONTANA ST

OAKDALE AVE

GEORGE ST

DICKENS AVE

KA

RLO

VAVE

LYNDALE ST

STLO

UIS

AVE

SCHUBERT AVE

CRYSTAL ST

MCLEAN AVE

HAR

DIN

GAVE

DRUMMOND PL

FULLERTON AVE

BELMONT AVE

KOSTN

ERAVE

Existing Tax IncrementFinancing Districts

Pulaski Industrial Corridor

z:\esri\individual_tifs\TIFs_By_Template\T-69_Pulaski_Industrial_Corridor.mxd

Work Product

Copyright, 2007, City of Chicago

CITY OF CHICAGORICHARD M. DALEY

MAYORDEPARTMENT OF PLANNING

AND DEVELOPMENT

ASSETS GOVERNMENTAL ADJUSTMENTS STATEMENTFUND OF NET ASSETS

Cash & Investments

Property TaxesReceivable

Accrued InterestReceivable

Total Assets

LIABILITIES

Vouchers Payable

Due to OtherCity Funds

Accrued InterestPayable

Deferred Revenue

Bonds Due WithinOne Year

Bonds Due AfterOne Year

Total Liabilities

FUND BALANCE/NET ASSETS

Reserved for DebtService

Designated for FutureRedevelopmentProject Costs

Total Fund Balance

Total Liabilities andFund Balance

Restricted for EconomicDevelopment Projects

Restricted forDebt Service

Restricted forFuture RedevelopmentProject Costs

Total Net Assets

AMOUNTS REPORTED FOR GOVERNMENTAL ACTIVITIES IN THE STATEMENT OFNET ASSETS ARE DIFFERENT BECAUSE:

Total Fund Balance - Governmental Fund

Property tax revenue

Long-term liabilities (reported in the statment of net assets)

Interest on notes payable recognized as an expenditure whe due

Total Net Assets - Governmental Activities

○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○

○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○

○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○

Statement of Net Assets andGovernmental Fund Balance Sheet

○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○

December 31, 2008

Department ofCommunity Development

PHONE: 312.744.4389

121 N. LaSalle St., Room 1006Chicago, IL 60602

www.cityofchicago.org/dcd

Costs of studies, surveys, developmentof plans and specifications, implemen-tation and administration of the redevel-opment plan including but not limited tostaff and professional service costs forarchitectural, engineering, legal,marketing

Costs for rehabilitation, reconstructionor repair or remodeling of existing publicor private buildings or fixtures

Costs of financing, including but notlimited to all necessary and incidentalexpenses related to the issuance ofobligations and which may includepayment of interest on any obligationsissued hereunder accruing during theestimated period of construction or anyredevelopment project for which suchobligations are issued and not for ex-ceding 36 months thereafter and inclu-ding reasonable reserves

Costs of the construction of public worksor improvements

Costs of job training and retraining

Costs of relocation to the extent that amunicipality determines that relocationcosts shall be paid or is required to makepayment of relocation costs by federal orstate law

Costs of property assembly

Costs of construction of new housingunits for low- and very low-incomehouseholds

TOTAL

Expenditures by Type, FY 2008

$75,074 $75,074

$3,426,528 ($3,426,528)

$7,903,489 $7,903,489

$39,626 $39,626

$3,889,000 $3,889,000

$11,832,115 $11,832,115

$24,601 $24,601

$615,135 $615,135

$8,686,308 $8,686,308

$3,834,019 ($2,605,135) $1,228,898

$923,495 ($923,495)

$7,074,601 ($7,074,601)

$7,998,096 ($7,998,096)

$11,832,115

$1,995 $1,995

$923,495 $923,495

$9,679,722 $9,679,722

$10,603,217 $10,603,217

$7,998,096

$3,426,528

($796,806)

$10,603,217

$71,885

$1,555,209

$230,874

$2,258,993

$332,417 $332,417

$56,247

$439

$335,000

($24,601)

$9,369