City Wants TIF Money Back From Closed Republic Windows Factory

Top mayoral aides will appear before a City Council committee today to explain what, if any, legal action the city will take against shuttered Republic Windows & Doors.

Last month, more than a dozen aldermen vowed to explore "every legal option" to force Republic to repay $9.3 million in tax-increment financing (TIF) funds used to build the Goose Island plant.

Read the whole story here.

Comments

[bascombe]

they never should have subsidized any firm in the first place. why should everyone in the state pay for the jobs of a few? worse, the maintenance of the personal income tax base is far smaller than the loss of the business tax base. It's lose-lose for everyone except the 'business'.

[SangZe]

Maybe the government should get out of the stadium-building business as well.

[amdezurik]

About dammed time. I am so tired of cities and state tossing HUGE tax breaks and rebates and fluffing for them like filming a porn flick and the cty and/or state getting bupkis back from that. Or worse active plots to export jobs and hide taxes. Screw them to the wall IMHO.