The Wilson Yard Project

As i was conducting my research on Uptown, i immediately discovered that the Wilson Yard project was a particularly hot topic in several blogs such as Uptown Update and The Windy Citizen. To fill in those who are unaware, the Wilson Yard project is a urban renewal project in Uptown that is slated for completion in 2010. The finished project will include a 180,000 square foot Target store, a new street scape along Broadway along with new infrastructure improvements, etc. For all the details, got to Ald. Helen Schiller's website.

Since i moved into the area a year and a half ago, i have always been curious about what was going to go in the large vacant lot. The site has been under construction ever since i can remember, at the very least since my freshman year at DePaul (2004-05). Every time i would pass the construction site going south on the Red Line, between the Wilson and Sheridan stops, i was able to see the progress on the project. Up until the past month or so, the lot has basically been vacant, as construction was limited to clearing the area out for the new complex.

There have been several issues surrounding the Wilson Yard project. For one, that area of Uptown is what is known as a TIF district. A TIF is a financing tool that can be used by the city/community government to develop or redevelop any part of the city that falls under the TIF. TIF literally stands for tax increment financing. How it works is that a "snap shot" of current tax revenues in a area is taken , those revenues are frozen to maintain that level. Any increases in tax revenues after that point are allocated to the TIF fund, which usually has a life span of 23 years.

Anyway, the issues revolve around alledged abuses by the city government in the financing, planning, and creation of the Wilson Yard project. There has even been a lawsuit filed in December 2008 by the community group Fix Wilson Yard, whom claim to represent more than 2,000 residents. For more info, click here.