Explore our content

All types | All dates | All authors
Tax Increment Financing

Pages

PI Original
by Ashlee Rezin
12:57pm
Fri Apr 5, 2013

CTU Takes Lawmakers On Eye-Opening Bus Tour Of Communities Affected By School Closures (VIDEO)

The Chicago Teachers Union led a bus tour of blighted neighborhoods slated for school actions Thursday, providing legislators, stakeholders and members of the press with a first-hand glimpse of communities they say are being “destabilized” by Chicago Public Schools’ (CPS) school closures.

Quick Hit
by Ellyn Fortino
2:58pm
Tue Apr 2, 2013

Town Hall Meeting Illuminates TIF Use In Chicago's 7th Ward

Dozens of South Shore residents weren’t too happy upon learning that a portion of their property taxes have been used as part of the city’s tax increment financing, or TIF, program.

Tom Tresser, co-founder of the CivicLab, came to the 7th Ward, and is heading to others, as part of the volunteer-based TIF Illumination Project, which is intended to promote TIF transparency and provide Chicago residents with a snapshot of what the program is — or isn’t — doing for their communities.  

“I can’t believe that it’s so much money that’s out there that the community does not know about that’s not channeling back into our community, especially with all the schools closing,” Renita Jones, a South Shore resident of more than 14 years, said after Saturday's meeting.

Quick Hit
by Ashlee Rezin
2:48pm
Mon Mar 18, 2013

Town Hall Meeting Illustrates Lack Of Communication With Taxpayers On TIF Projects

Taxpayers are largely kept out of the loop when it comes to how their property taxes are used by tax increment finance (TIF) districts, according to Tom Tresser, co-founder of the Civic Lab.

Aiming to promote transparency in government and give residents background information on neighborhood TIF projects, the Civic Lab and the TIF Ad Hoc Committee of the Washington Park Community hosted a town hall meeting at the Washington Park Field House Saturday.<--break->

Quick Hit
by Brandon Campbell
12:12pm
Fri Sep 14, 2012

Day 4 Of CTU Strike Targets Pritzker, Use Of TIF Funds

A thread of optimism ran through Thursday, the fourth day of the Chicago teachers’ strike, as both the union and the school board hinted that a deal could be reached by Friday, with a possibility of children heading back to school as early as Monday.

That optimism also extended to yet another downtown rally that brought an estimated 3,000 picketing teachers and supporters outside the Hyatt Regency Hotel at 151 E. Wacker late Thursday afternoon.

Later, the group, lead by a marching band from Morgan Park High School, rallied at a park near Congress Parkway and Michigan Avenue.

There, speakers railed against Chicago School Board member Penny Pritzker, who they say received $5.2 million in TIF – tax increment financing – dollars for a Hyde Park Hotel. The Pritzker family owns the Hyatt Hotel chain. Recently, a group of Chicago teachers called for Penny Pritzker to step down from the school board.

Quick Hit
by Ashlee Rezin
11:40am
Wed Aug 8, 2012

Chicagoans Rally Against $29.5 Million River Point TIF Subsidy (VIDEO)

Chanting “TIf money’s our money,” and carrying signs that read “Corporate Welfare is breaking Chicago’s back,” more than 100 protesters marched through downtown Chicago yesterday to protest the allocation of $29.5 million in tax increment financing (TIF) for a corporate tower in the West Loop.

“This money is cut right off the top of our property taxes, and we need to reinvest it in areas other than the Loop,” said Rita Pope, a resident of Evanston who was born in North Lawndale. Pope volunteers for the Organization of the North East and helped pass out flyers during Tuesday’s protest.

PI Original
by Matthew Blake
5:51pm
Wed Jul 18, 2012

TIF Piggybank Running Low

Chicago’s rapid expansion of the controversial Tax Increment Finance, or TIF, program during the housing bubble has arguably started to back fire.

Quick Hit
by Brandon Campbell
1:48pm
Wed Jun 27, 2012

Chicagoans Decry Use Of TIF Dollars For West Loop Office Park (VIDEO)

Mayor Rahm Emanuel’s recent decision to chip in about $30 million for a subway tunnel and a 1.5-acre public park to be built alongside a new West Loop office building has got some Chicago residents upset.

On Tuesday morning about 70 community activists marched to the Mayor’s Office from the proposed site of the 45-story, $300 million River Point development near Lake and Canal Streets. The group said they want the city’s money used for parks in the city’s poorest neighborhoods, not in Chicago’s thriving downtown area.

Quick Hit
by Matthew Blake
9:36am
Wed Jun 27, 2012

Community Members Discuss Future Of Fisk Coal Plant Site With Midwest Generation

Audience members offered a range of ideas at a city hearing last night about what to do with the site currently occupied by the 108 year-old Fisk coal-fired power plant in the Pilsen neighborhood, which closes this September. Some of the ideas included a park, funeral home, public market, trade school, and even a high school sports complex.

But all these visions will be stymied if the Midwest Generation company cannot find a buyer willing to not just build something new but also clean up, or remediate, the site.

“There is a huge marketing job ahead of us,” acknowledged Jean Pogge, CEO of the Delta Institute, the Chicago non-profit in charge of a task force Mayor Rahm Emanuel created to determine the site’s future.

PI Original
by Matthew Blake
5:21pm
Mon Jun 4, 2012

TIF Reform Tabled

The jury is out on whether Chicago Mayor Rahm Emanuel is serious about reforming the Tax Increment Finance, or TIF, economic development program.

Pages