City Sued Over TIF Funds

Chicago Public Radio:

A group of residents on Chicago's North Side is suing the city and developers over a development project. The group alleges city officials are misusing tax increment financing or TIF funds.

Chicago has dozens of TIF districts where some property tax money goes into a special economic development fund. A new lawsuit alleges the city shouldn't be spending that money for a mixed use development in the Uptown neighborhood. Tom Ramsdell is an attorney for a group called Fix Wilson Yard. He says the project doesn't need TIF funds because the area isn't blighted or a historic site.

Read the whole story: Chicago Public Radio