Cartoon: $2M cure for flat feet
Evanston officials are worried about what could happen if Dominick's doesn't renew the lease for its supermarket at the Evanston Plaza shopping center in 2020. But Ponzi thinks they're about to waste taxpayer money on the plaza.
Aldermen this week approved a tax increment financing district for the plaza that city staff projects will generate over $23 million for development projects there over its 23-year life. They also gave tentative approval to borrow $2 million soon against anticipated TIF revenues to fund immediate upgrades to the privately-owned development.
City Manager Wally Bobkiewicz said he wants the TIF now so the city isn't left "flat-footed" if Dominick's decides to close the store when the lease expires.