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.







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First Posted: 12- 3-08 07:36 PM | Updated: 01- 3-09 05:12 AM