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Evanston Considers Gifting $165K to the Music Institute

City officials are considering a gift to thank the institute for moving its headquarters to Evanston from Wilmette.

 

Evanston City officials are considering making a $165,000 gift to the Music Institute of Chicago to thank the organization for its decision to move headquarters to Evanston from Wilmette, Evanston’s Economic Development Committee will review the proposal at its April 24 meeting, Evanston Now reported. 

The money would come from Tax Increment Financing District fund and is a non-interest, forgivable loan, where 10 percent of the loan’s balance would be forgiven each year the institute uses the building—the Music Institute’s move to Evanston could add up to some $76,600 in benefits to the city, Evanston Now reported.

Procrustes' Foil March 30, 2013 at 10:13 AM
Now this makes sense. People bring their kids from far and wide to study music at MIC which employs world-class musicians as teachers. Having studied classical violin and voice over the years, I can attest to the benefits of musical education. Further, those people who take lessons at MIC spend valuable dollars here in Evanston. MIC is a noteworthy corporate citizen which has a stellar national reputation.
Fred March 30, 2013 at 04:00 PM
As a taxpayer in Evanston, I don't think this makes sense. Administrative offices are not teaching studios which they have in other suburbs. There are other music schools in Evanston. This does not drive any additional business to Evanston. I'm sure there are many more businesses who would like this arrangement! Where do we sign up? As an Evanston taxpayer, I find this offensive as they should pay their own way.

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