David L. Reifman
Commissioner
Roosevelt-Cicero
Industrial Corridor TIF
Enterprise Zone #1
Public Benefits
Criterion
Weight
50%
Job Creation
25%
Job Wages
25%
Occupier
Industrial &
Retail
Industrial
Retail
Industrial &
Retail
Baseline Expectation
Exemplary Performance
$11.00/Hour
$15.00/Hour
Extraordinary Employment
Incentive
Occupier
Minimum Threshold
Maximum Threshold
Job Creation
Industrial
Retail
Amount
$16,322,364
$26,200,000
$42,522,364
% of total
38%
62%
100%
Uses
Land Acquisition
Hard Costs
Soft Costs
Development Fees
Tenant Improvements
Leasing Commissions
Interest Carry
Operating Deficit
Contingency
Total Uses
Amount
$1,021,046
$24,778,500
$3,678,878
$1,189,646
$7,122,550
$1,757,328
$1,147,639
$219,964
$1,606,813
$42,522,364
$/sf of Building*
$2.68 psf
$65.09 psf
$9.66 psf
$3.12 psf
$18.71 psf
$4.62 psf
$3.01 psf
$0.58 psf
$4.22 psf
$111.70 psf
2.
3.
4.
Phase 3_ Retail Construction Start 1st Quarter 2020 and Completed 1st
Quarter 2021
5.
Criterion
Weight
50%
Job Creation
25%
Job Wages
25%
Occupier
Industrial &
Retail
Industrial
Retail
Industrial &
Retail
Baseline Expectation
Exemplary Performance
$11.00/Hour
$15.00/Hour
Extraordinary Employment
Incentive
Occupier
Minimum Threshold
Maximum Threshold
Job Creation
Industrial
Retail