Last Saturday the Chicago Tribune reported that the City of Chicago would be changing its plans for the upcoming entertainment district that includes the future DePaul arena. The city will be shifting the $33 million in TIF funds originally allocated to land acquisition for the arena to help pay for land costs for the new Marriott, which is planned to be part of the same entertainment district.
The change is due to a failure on the city’s part to assemble key parcels of land near McCormick place from construction executive James McHugh. The Metropolitan Pier and Exposition Authority will cover the cost of the $33 million in TIF funds being redirected.
Using TIF funds in the arena project has been controversial at DePaul, spurring opposition from the student led Coalition for an Alternatively Funded Arena (CAFA). While CAFA’s stance against the arena was not limited to the use of TIF funds, it was a major focal point in their objection to the stadium.