http://www.suntimes.com/news/elections/272687,CST-NWS-tifs26.article
Riverside Info » About Riverside
Sun Times 2/26, We are not alone in our fight.
(11 posts)-
Posted Monday Feb 26, 2007 10:11 #
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This, of course, makes the schools beholden to the city for a portion of their funding. Controlling the money stream is another way, besides his ability to appoint, that Daley controls the schools. It looks like the control freaks in Riverside want the same leverage. No matter how you slice it, TIFs are bad news for schools. D96's failure to side with the taxpayers on this is a function of "go along, get along" politics.
Posted Monday Feb 26, 2007 10:29 # -
Yeah, Chicago schools have gone in the tank under Daley and his use of TIFs!
As an elementary school CPS graduate and friend of many current CPS teachers and CPS managers, I can tell you nothing is further from the truth. At no time in the last 30 years have CPS been in a better position from an educational, financial and infratructure standpoint than they are now. This is all thanks to Daley and his creative financial advisers who long ago realized the power of TIFS and their benefits to schools.
Posted Monday Feb 26, 2007 10:53 # -
Someone correct me if I'm wrong.
It sounds like Daley's alternative to a "make whole" agreement - which is unlawful per the Village of Orion case unless the other special taxing districts are made whole to the same degree as the schools - is to use a $200 million bond issue to build new schools and rehab existing ones. Our Village government couldn't in good faith promise this to our schools since it is not "pay as you go."
Posted Monday Feb 26, 2007 11:23 # -
Vote early and often. Results tabbed from Workshop IV just in via email from DLK. People overwhelmingly do not like it.
Posted Monday Feb 26, 2007 11:23 # -
Corbi - it gives me great pleasure to finally be able to agree with you on something - well - actually we probably agree on a number of things just not those relate to this TIF deal. But my friends tell me that they have first hand knowledge of significant improvements in the Chicago schools - and not just bricks and mortar. So, in honor of election day tomorrow, I shall go into the city and visit a few of the bars where I misspent considerable portions of my youth and raise a toast to "Hizzoner." I think a waker-upper at the Emerald Isle in Bridgeport, lunch at Gene & Georgetti's (at the bar) and one or two more quick stops in the 43rd. So if I act sleepy on Tues. at the workshop it will be because I have been out doing my civic obligation to help get out the vote. Wake me when it's time to make my "X". "Ciicaguh, Chicaguh, that toddlin' town... Come with me baby and I will show you around..."
Posted Monday Feb 26, 2007 11:59 # -
Good to hear Mr. Spatny. The school's progress has been impressive. A far cry from when I was going to Ogden School in the early 1980s when the Secretary of Education under Reagan (I think his name was Bennett)labeled the CPS as the worst system in the country.
I won't be there on Tuesday but have have an enjoyable evening. Take it easy on the vino.
Posted Monday Feb 26, 2007 12:50 # -
I shall go to Papa Milano's right across from the Ogden School and have a nice slice of lasagna in your honor. Maybe a little Barbera with it.
Posted Monday Feb 26, 2007 12:57 # -
http://broadcast.organicframework.com/p/CBS-2-Chicago-Local-News-036328M-Deficit-Has-Public-Schools-Pondering-Layoffs-Larger___441,49209.html
See broadcast from CBS, Chicago Public Schools deficit $328 Million.http://www.usatoday.com/news/education/2006-06-20-dropout-rates_x.htm
Read USA Today article, Chicago Public Schools graduation rate is 52.2%http://en.wikipedia.org/wiki/Chicago_Public_Schools
Performance
The April 21, 2006 issue of the Chicago Tribune revealed a study released by the Consortium on Chicago School Research that stated that 6 of every 100 CPS freshmen would earn a bachelor's degree by age 25. 3 in 100 black or Latino men would earn a bachelor's degree by age 25. The study tracked Chicago high school students who graduated in 1998 and 1999. 35% of CPS students who went to college earned their bachelor's degree within six years, below the national average of 64%The reason many of us live here in Riverside, and not in Chicago, is because of our excellent school system. According to the article that started this thread, it is estimated that TIF in the city of Chicago diverts $400 Million yearly from the schools. (It is more than their deficit!) That money could go a long way to actually repairing this horrible problem. It is tragic that 400,000 children are suffering because of greed. A $200 Million bond issue for building improvements barely begins to repair the damage to the children.
The only point of me starting this thread is to point out that there are people in the world that think TIF is a magic want that will fix everything with magic fairy dust and that there are people that think TIF is an IED (Improvised Explosive Device)that will blow up everything we know and love, and cost a bundle to do it.
Posted Monday Feb 26, 2007 13:21 # -
Here's a little more accurate reporting on the matter introduced in this thread:
$1 billion building plan calls for 24 new schools in needy areas:
Chicago Sun-Times, Jun 15, 2006 by Fran SpielmanNine new high schools and 15 new elementary schools will be built in 10 needy Chicago neighborhoods, thanks to a $1 billion school construction plan to be unveiled by Mayor Daley today.
The mayor's plan also calls for four major high school renovations, using $400 million in school bond funds and $600 million generated by existing tax-increment financing (TIF) districts.
Now that local aldermen have signed off on the use of TIF funds, new schools will be built in the Chicago neighborhoods of South Chicago, Washington Heights, Chicago Lawn, Lawndale, McKinley Park, Back of the Yards, South Shore, Roseland, Englewood and Garfield.
"This is the mayor's answer to the fact that the state hasn't ponied up any money," said a top mayoral aide, who asked to remain unnamed.
Daley referred to the state's failure to fund school construction last week, while defending his decision to sign off on a $55 million school property tax increase.
NO DECISION ON CENTRAL LOOP TIF
Apparently referring to Gov. Blagojevich's controversial plan to raise $10 billion for education by privatizing the Illinois Lottery, Daley said, "I can't be waiting for what's going to happen in the state. . . . I'm talking about the City of Chicago -- and we're not going to shortchange our children. This system is alive and well and improving each day."
The Sun-Times disclosed plans for a massive school construction program earlier this month in a story about the resignation of School Board President Michael Scott.
It's not the first time that City Hall has ridden to the rescue to ease the problem of school overcrowding and run-down school buildings.
In April 2000, Daley agreed to borrow $170 million against the windfall of cash expected when the Central Loop TIF expires at the end of this year. TIFs freeze property taxes within the boundaries of a defined district for 23 years, but there is a bonanza of new revenue when the freeze is lifted.
The creative financing scheme gave the Chicago Board of Education $435 million to build and renovate aging schools -- 64 percent more than originally planned.
"Why should I wait until 2006. You're in a crisis stage. You want to get this thing done now," the mayor said at that time.
City Hall has not yet decided whether to extend the life of all or parts of the Central Loop TIF, or allow the district to expire.
Copyright CHICAGO SUN-TIMES 2006
Posted Monday Feb 26, 2007 14:08 #
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