Breakfast at TIFanny's
Yesterday?s Real Estate Investors Association breakfast was actually at Maggiano?s. Either way, members revealed some good tricks. They're using TIF and federal financing to actually get developments done. That's how Chicago Booth School of Business's Cody Harper, here with Capital Realty and Development's Steve Janowiak and Meltzer, Purtill & Stelle's Mark Raymond, financed a 118k-SF senior living and retail facility at Stony Island and 23rd. Mark's also using TIF funds, on a 140k-SF Palatine car dealership.
Panelists shared TIF success stories and tactics. Wildman Harrold's Mark Huddle, S.B. Friedman's Tony Smith, Wildman Harrold's Alan Kennard, Pathways Senior Living's Jim Keledjian, and State Senator Don Harmon dished on the state's capital budget and how to use Recovery Zone Bonds and Build America Bonds in conjunction with TIF money to finance projects. Jim is working with Wildman Harrold on what he calls the ?REIA TIF? in Melrose Park. It will be home to senior rental and housing facilities.