From Chi-Town:
There is a proposed TIF that might benefit that property. It was mentioned in this article:The City Colleges of Chicago is set to spend up to $625,000 as it prepares to demolish the old, abandoned Kennedy King College campus, a relatively small portion of the expected $10.4 million teardown cost.The Board of Trustees will vote on awarding a $625,000 contract tomorrow morning for the engineering work needed before the old campus can demolished.The campus, located at South Wentworth Avenue and West Marquette Road, has been vacant since late 2007. That’s when the new Kennedy-King campus opened at West 63rd Street and South Halsted Street.Rather than opening up bidding on the engineering work to any company, the City Colleges used a list of approved companies that it last ratified in 2006, according to district documents. Invitations to bid were sent to 44 companies and eight responded.
The district has not yet found a way to cover the rest of the $10.4 million demolition cost. In October, it began studying creating a tax increment financing district covering the neighborhood around the old campus, and then using that money to pay for demolition. The board has not yet acted on creating that district, though.I wonder what else we could be there using a TIF?
BTW, there City Colleges meeting on the demolition is tommorrow at 9 AM. You may go to the City Colleges offices @ 226 W. Jackson Boulevard.
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