With the media and public spotlight on Chicago's pension crisis, the non-partisan research center Good Jobs First is turning the attention to the city's controversial tax increment financing, or TIF, program.
In its recent "Putting Municipal Pension Costs Into Context: Chicago" report, the Washington, D.C.-based group asserts that the TIF program has played a part in the underfunding of pensions in the city.
"It's really hard to ignore the evidence that TIF has had some sort of impact on pensions," said Tommy Cafcas, research analyst at Good Jobs First, which works to promote corporate and government accountability.
"We know that TIF costs grew, and they started growing really quickly after 2000. We know that general fund revenues declined ... and we know that the city addressed its budget gap in part by making inadequate contributions to public pensions, so it seems reasonable that TIF plays a role in how the city thinks about addressing the pension issue." Read more »