Politics & Government

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.

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