Saturday, March 8, 2014

Motor Row Marriott Hotel Gets $55 Million in TIFs

Chicago Tribune shares a quick update on the hotel situation down in Motor Row:
Chicago aldermen today gave the preliminary go-ahead to a plan to earmark $55 million in special tax district funds to help pay for a new hotel next to McCormick Place.  
The City Council Finance Committee agreed to set aside the tax-increment financing revenue for the development of a 1,200-room Marriott hotel that is to be built along with a new arena that will host DePaul University basketball games and other events near the convention center.

Interesting.  Stay tuned, this drama continues to evolve.

For some historical Motor Row stuff click here.

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