A likely funding source would be the surrounding tax-increment financing (TIF) district. But it’s a TIF that “may be expiring,” said Burnett, whose 27th…
that would transform a sea of United Center parking lots into a thriving new neighborhood, but wants to know more about its taxpayer-funded infrastructure improvements — including the potential for a new Pink Line station.
“It would be great and beneficial to have a Pink Line . But how do you pay for it?...It’s not easy to just say, `You should put an L stop there.’ Where’s the increment going to come from?” “I know they’re on a fast-track. But we’ve still got a lot of deliberations to do in regards to this…From what I understand, the United Center has their financing in place. I think it’s going to go forward,” Burnett added. “We just have to look at the infrastructure part of it and what they’re trying to put the city in on…and if we can afford that and how we do that.”
1,309 hotel rooms, with up to 180 of those “keys’ in Phase One of the decade-long project. The height of the tallest building in the massive development would be 660 feet, making it the tallest building in the surrounding area.
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