Residents of Chicago will soon see some of the fruits of the controversial tax increment financing for the Lincoln Yards project in Chicago's North Side.
"Lincoln Yards’ developer plans to start building a bridge across the Chicago River by next summer that will help connect the site to the planned eastward extension of The 606 recreational trail," reports Ryan Ori.
The $35 million bridge is part of a nearly mile-long extension of Dominick Street between Webster and North avenues, according to Ori. Developers are planning to start construction in mid-2021, with "one driving lane and a pedestrian sidewalk in each direction, as well as a north-south bike lane."
The Lincoln Yards project attracted controversy throughout the approvals process for its heavy reliance on tax increment financing (TIF), but was approved with $490 in TIF funding by the city in August. That initial funding included enough for the full cost of the bridge, according to Ori.
FULL STORY: Lincoln Yards' $35 million bridge, with bike and pedestrian lanes, moves closer to reality
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City of Albany
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research