“The TIF Grant and the lease were approved,” Fox Valley Music Foundation told Four Over Four. “The city will begin doing its work on the building in December, and we will have access to the funds to complete the building we have work beginning in January.”
The deal will grant the foundation over $100k in downtown tax increment financing to renovate the inside of the building. According to the Chicago Tribune, the grant does not include the stage, the sound system, seating and other such items, but the foundation would likely spend another $50,000 on top of the TIF money for the inside of the venue.
The foundation has also mentioned having as many as 200 shows a year featuring local, regional, and national talent.
Will Chicagoans travel outside of city limits to hit up the new venue when it’s completed?
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About the Fox Valley Music Foundation:
“The Fox Valley Music Foundation is a not-for-profit organization comprised of music lovers, music educators, arts enthusiasts, and people who have spent many long hour days and years in this business of music. The Foundation’s reason for being is to preserve, promote and protect the wonderful music of the Fox Valley area of Illinois while providing music wducation to people of all ages and from all walks of life.”
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