TIF District
Uptown Tax Increment Financing District
Property encompasses approximately 111 acres in a portion of the City of Park Ridge’s central business district (Uptown) that is generally bounded by portions of Northwest Highway, Touhy Avenue and Elm Street on the north, portions of Washington Avenue and Ridge Terrace on the east, Garden Street on the south and portions of Cumberland Avenue to Western Avenue on the west. This TIF was established in 2003.
Uptown TIF Redevelopment Objectives:
- Reduce or eliminate conditions that qualify the Project Area as a conservation area and blighted area
- Strengthen the economic well-being of the Project Area and the City by returning vacant or underutilized properties to the tax rolls
- Replace and relocate the City’s main Reservoir and pumping station to upgrade services (completed) to provide new opportunity for private investment (completion targeted for 2007)
- Coordinate development of parcels and structures in order to achieve efficient building design and off-street parking
- Create and environment and provide incentives that stimulate private investment
- Assemble or encourage the assembly of land into parcels of appropriate shape and sufficient size for redevelopment
- Provide safe and efficient vehicular, bicycle and pedestrian circulation systems allowing adequate access to, movement within and connections throughout the Project Area
- Provide for consolidated off-street loading and service facilities which are screened and buffered from adjacent development areas and public streets
- Provide signage that will establish visual continuity, understandable way-finding routes, and promote a positive overall image for the Project Area
- Undertake landscaping, lighting and signage improvements to upgrade the appearance of public rights-of-way within and adjacent to the Project Area