Big financing steps forward for 'the 78' and Foundry Park projects

Two of Chicago’s most pivotal but challenging undeveloped sites — Foundry Park on the North Side and the vacant South Loop parcel known as “the 78” — moved forward in a big way Wednesday before the City Council adjourned for a summer recess. Mayor Brandon Johnson introduced a $201.6 million tax increment financing subsidy for JDL Development's scaled back vision for North Side industrial land along the Chicago River that once was supposed to be home to the Lincoln Yards megaproject. And despite…