Chicago Mayor Rahm Emanuel visited Oak Point University’s future home, Saint Elizabeth Hospital, on Monday to tour the construction site, and held a press conference there about the significance of the University’s TIF funding as a primary means to make the move.
“Building a new campus for Oak Point would not have been possible without the support of Mayor Rahm Emanuel and 1st Ward Alderman Joe Moreno,” said University President Beth A. Brooks, PhD., RN, FACHE. “We are excited about moving to our new location at Saint Marys and Elizabeth Medical Center and about the new educational opportunities the university will bring to Chicago and its diverse communities.”
When completed sometime this summer, Oak Point University will occupy parts of the first floor, which will include a new student lounge and library. The campus also will occupy the 6th, 7th, and 8th floors for classrooms, administration, an advanced simulation lab, faculty and staff offices.
“I am laser-focused on creating jobs for Chicagoans, especially in crucial fields, such as nursing,” said Mayor Emanuel. The mayor mentioned that the TIF financing arrangement will bring 77 jobs to Chicago and will allow hundreds of additional Chicagoans each year to get essential training for essential jobs.
Tax increment financing (TIF) of $4.8 million from the City of Chicago will make possible the university relocation from West Suburban Medical Center in Oak Park to Saint Elizabeth Hospital in Chicago’s historic Wicker Park. TIF is a form of public financing used for subsidizing redevelopment, infrastructure and other community-improvement projects.
Staff and students anticipate moving into the university sometime this summer. University officials expect enrollment to increase from 275 students to 500 students by the fall 2012 term. The university was founded in 1914.
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