SSA established for 53rd St.

Staff Writer

The City of Chicago has appointed about half of the committee members for the 53rd Street Special Service Area (SSA).

James Hanson, principal at Mesa Development; Michael McGarry, president at Hyde Park Bank; Mary J. Rogel, owner of East Point Associates; Tony Fox, owner of the Harper Theater; Gregory Guttman, board president at the Hyde Park Chamber of Commerce and director of marketing at MAC Property Management; James Hennessy, vice president for commercial real estate at the University of Chicago; Allison Hartman, attorney; George Rumsey president of Computer Resource Center and Donna Trainor, UPS Store franchise owner, were all named members of Special Service Area Number 61, the Hyde Park Commission, by the City of Chicago Finance Committee last Monday, Jan. 13.

The SSA committee will be able to levy an additional property tax on the buildings along the 53rd Street business corridor and adjacent areas.

Among the committee’s tasks would be to determine the annual tax levy, select officers and write bylaws.

The SSA’s initial suggested budget would be $264,508 and would be levied through 2022. The tax rate would not exceed .95 percent of the equalized assessed value of a property.

SSAs levy additional property taxes that a community imposes on itself within business corridors. The community can then use those taxes to attract new business, maintain or improve the streetscape, construction, security, parking and traffic management, promotion and advertising or other expenses that ultimately improve the corridor.

The area would contain 125 property index numbers, which the city uses to identify taxable properties.