This morning the Sun-Times editorial board endorsed a Chicago City Council ordinance to increase oversight of the tax increment financing (TIF) system and derided Mayor Daley's use of funds:
When homeowners hear the phrase "tax increment financing districts" -- also known as TIF districts -- their eyes glaze over, if they know about them at all.
We admit it. TIFs are about as sexy as Alan Greenspan in a Speedo.
So to keep your attention, we're going to call them what they really are:
Mayor Daley's private piggy bank.
Read our post from earlier this month to learn more about the proposal from Alds. Manny Flores (1st Ward) and Scott Waguespack (32nd Ward).
Comments
Anonymous (not verified) on Mon, 02/23/2009 - 12:02
This is great--but Chicagoans should also have immediate access to the stimulus project list for Chicago.
It would be great to have a way to mobilize people in support of this effort and greater City transparency.
suggestions?
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