fyi, The latest Reader has an article on TIFs
TIFs for Dummies
http://www.chicagoreader.com/features/stories/theworks/071101/
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and a bunch of other Reader articles on TIFs
Riverside Info » About Riverside
Chicago Reader article on TIFs
(4 posts)-
Posted Friday Nov 2, 2007 21:33 #
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and a recent Crain's article that talks of a need for TIF reform...
http://chicagorealestatedaily.com/cgi-bin/news.pl/print?id=27090
Posted Monday Nov 12, 2007 13:17 # -
http://www.chicagoreader.com/features/stories/theworks/071122/
“The total amount Cook County taxpayers are paying in TIF revenue now exceeds $800 million,— Orr writes in his report. “If TIFs were their own separate taxing agency, they would collect the second largest amount of revenue in Cook County. The Chicago Public Schools rank first with $1.7 billion.—
What led Orr to break the news so boldly this time around? “I'm open to TIFs as a tool, but I believe there are significant abuses,— he says. “I believe we have reached a point in the process where the public needs much more information about how this program is operating.—
Posted Sunday Jan 27, 2008 08:17 # -
http://www.chicagoreader.com/features/stories/theworks/080117/
1/17/08 The Reader
"A Good Day for the Rainmakers
The well-connected score again as the city works out new TIF deals for a former alderman, a wealthy private hospital, and a big car dealer. ... A word of caution: despite the ease with which the city spends it, this is not free money. In a nutshell, all you need to know about tax increment financing is that when the city creates a TIF district, it guarantees your property taxes will be raised."
So much for "shifting the tax burden from the residential to the commercial sector." To wit, see also Oak Park. See the comments on this article by the powerless citizenry of Chicago, clamoring for organized opposition.
See an entire archive of Reader articles on the predations of TIF:
Posted Tuesday Jan 29, 2008 10:56 #
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