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Community Development Commission

Commission approves city acquisition of Rezko site in River-South TIF

The Community Development Commission signed off on a proposal Tuesday allowing the city to acquire a 61-acre site in the Near South Side formerly owned by Rezmar, Inc., the firm founded by convicted businessman Antoin “Tony” Rezko.

City panel signs off on plans for new CTA terminal at Union Station

Plans for a new Chicago Transit Authority bus terminal at Union Station are moving forward thanks to the Community Development Commission approval on Tuesday of a measure that would allow the city’s Department of Transportation to obtain parcels of property needed for the project.

The property in question, located at 301-209 S. Clinton St., is partly owned by the Chicago Board of Education and partly owned by Heartland Bank and Trust, which leases the property to a parking lot operator.

City taking steps toward McCormick Place revamp

The city is moving forward with its ambitious plan for the massive renovation of McCormick Place that includes development of a 1,200-room hotel.

The Community Development Commission approved on Tuesday the acquisition and sale of property at 2207 S. Michigan Ave. and 2206-58 S. Indiana Ave., currently owned by James McHugh Construction Co., to the Metropolitan Pier and Exposition Authority to make way for the hotel.

City adds years and dollars to the Roosevelt/Racine TIF

The Chicago Community Development Commission on Tuesday added 12 years onto the lifespan of the Roosevelt/Racine tax increment financing district, home to one of the city’s most ambitious – and infamously delayed – public housing projects.

Originally designated in 1998 and set to expire in 2021, the Roosevelt/Racine TIF encompasses 212 acres of land on the city’s Near West Side.

Revamp of jumbled North Side intersection moves forward

The Chicago Community Development Commission on Tuesday approved a plan from the city’s Department of Transportation to revamp the chaotic intersection at Fullerton, Damen, and Elston avenues on the near North Side.