Places we've helped
Transit TIF - RPM Phase OneIn 2016, JRG teamed with SB Friedman and Christopher B. Burke Engineering to implement the first “Transit TIF” area in Chicago, as a means to fund critical infrastructure improvements on the nearly 100 year old Red and Purple lines of the CTA rail system. This innovative funding tool was adopted by the Illinois legislature in June 2016 and the Transit TIF was implemented in record time through the combined efforts of the consulting team, the City of Chicago and CTA.
Swedish Covenant Hospital TIF ApplicationJRG was engaged by Swedish Covenant Hospital to develop an incentives strategy for addressing two key hospital objectives: 1) create an integrated, culturally sensitive, women-centered health center and 2) modernize and address chronic overcrowding of the Emergency Department. JRG evaluated the eligibility of the campus and the neighboring corridors and found strategic connections to adjacent TIF districts. The TIF designation involved educating the community about the TIF process.
Pilgrim Baptist ChurchPilgrim Baptist Church engaged JRG to conduct research and analysis of development options for the historic church building, built by Adler and Sullivan in 1891. JRG conducted a preliminary assessment of the best use of the property within the confines of the church board’s preference for preserving the building. Based on location, zoning, and structural and site limitations, JRG narrowed the range of development possibilities for more detailed feasibility analysis.
Morton Grove Bond Feasibility StudyThe Village of Morton Grove engaged JRG to prepare an independent financial feasibility study related to the issuance and sale of a $14 million TIF revenue bond for the development of the Sawmill Station Lifestyle Center. The new center will provide a modern shopping, dining and entertainment experience at the important crossroads of Dempster Street and Waukegan Road.
Annual TIF District ReportingThe City’s Department of Planning and Development engaged a team including JRG to prepare the statutorily required Annual Reports for all 145 of the City’s Tax Increment Financing Districts. This time sensitive and data intensive assignment required the collection, reconciliation and integration of data and documents from multiple City departments. . Experienced project management, database architecture expertise, and understanding of data sources were the hallmarks of this complex project.
City Hyde ParkDeveloped by Antheus Capital and designed by renowned architect Jean Gang, this residential and commercial project represented the first non-university housing development in Hyde Park in decades. The high cost of underground parking and challenges with securing financing created a financial gap that was closed with $11,300,000 in TIF assistance and Enterprise Zone incentives. JRG strategically implemented TIF strategies resulting in $2,000,000 in additional TIF revenue.
188 West RandolphVillage Green sought TIF assistance for an adaptive reuse of this historic building for apartments with ground floor retail. The project was achieved through a challenging and complex financing structure bolstered by TIF, Historic Tax Credits and Low Income Housing Tax Credits. JRG helped the developer secure an award of $34 million in TIF funding, including a critical cash payment of $29 million and a $5 million TIF Note.
Chicago Public SchoolsJRG has assisted Chicago Public Schools in securing TIF assistance for new school development, additions and rehabilitation improvements, both small and large. JRG was instrumental in developing a large scale, city-wide capital improvement program called Modern Schools Across Chicago, which garnered more than $500 million in TIF funding for new schools and additions.
Chicago TIF Monitoring and Compliance ProjectJRG has developed a computerized payment model that processes all TIF-related development agreement payments for the City of Chicago. The TIF-by-TIF Financial Plan documents the financial and compliance parameters for all existing and planned agreements and estimates the net available funds in every TIF district within the City of Chicago. This dynamic database is tailored to the unique specifications of each TIF redevelopment agreement.