The Juniors meeting this past Thursday was interesting. Both sides of the TIF debate were invited to speak. Even though the Village side of the debate took an additional 20 minutes on top of their allotted 15 minutes, there was simply not enough time to get to the heart of the issue.
I asked the Village's TIF expert, who does TIF in the City of Chicago, and had a very fancy power point presentation, how the schools in Chicago benefit from TIF. He did not have that answer readily available. I googled it.
“Concerning schools specifically, advocates of TIF in Illinois argue that the state-supported funding for schools in TIF districts increases when growth occurs due to TIF, but Illinois is presently ranked 48th out of 50 states for the amount of funding the state provides for public education. Combined with the extraordinary amount of TIF Districts that exist in Illinois, schools see a significant decrease in available funds during the life of the TIF, yet the essence of the TIF is economic and community growth resulting in a much higher demand for educational services. As a result, Illinois schools have lost an average of $83 Million annually to the TIF authority.—
(The author, James P. Regan is the managing partner of the Chicago law firm of Fisk Kart Katz and Regan, Ltd., the Illinois member of American Property Tax Counsel (APTC), the national affiliation of property tax attorneys.)
Read the entire article here.......
http://www.aptcnet.com/articles/2006/Unforeseen_Consequences_Regan.htm
Or watch this CBS news report, only $328 Million deficit 2006/07 school year....
http://broadcast.organicframework.com/p/CBS-2-Chicago-Local-News-036328M-Deficit-Has-Public-Schools-Pondering-Layoffs-Larger___441,49209.html
So there really is no definitive answer here. I just can't figure out if TIF is bad for schools or not!
Anyway , a few noteworthy lessons I gleaned from the event.
-Landlords, business owners, and the village can enter into 3 party agreements with TIF funds. Yes, all landlords may apply.
-The word "blight" very seriously upsets some people.
-Yes, eminent domain CAN be used anytime, TIF or no TIF.
-The village has NO $$$ AT ALL to use its eminent domain powers without a TIF.
-It is distracting to set up a power point presentation in someone's face while they are speaking.
Were you there, what did you think?