The Chicago City Council approved a redevelopment agreement providing tax increment financing (TIF) funds to Heart of Uptown Apartments LLC and POAH TIF LLC for the acquisition and redevelopment of Heart of Uptown Apartments. Located across multiple addresses, this project is aimed at revitalizing and preserving affordable housing in the Uptown area. The agreement, supported by Mayor Brandon Johnson, secures TIF funding to enhance housing accessibility and quality within the community.
This decision supports the preservation and development of affordable housing in Chicago's Uptown area, addressing critical housing needs and enhancing community stability. The TIF funding allows developers to undertake substantial improvements, reinforcing Chicago’s commitment to accessible housing.