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McCormick Hotel Gets TIF'ed Off

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The city council has approved a $55 million tax increment financing (TIF) subsidy to be used towards constructing the 1,200 room Marriott Marquis planned for McCormick Place's new entertainment district. The pot-o-TIF-gold was originally intended to go towards building DePaul's new arena, but the university rejected the subsidy after numerous protests from students and residents throughout the city. [Crain's]