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Tax Increment Financing Districts

The TIF Illumination Project at Two Years

Tom Tresser | Posted 05.27.2015 | Chicago
Tom Tresser

A Tax Increment Finance district is created by the City's Department of Planning and Development. It is a tool to capture property taxes from all properties inside the district.

The TIF Illumination Project at One Year

Tom Tresser | Posted 04.16.2014 | Chicago
Tom Tresser

The TIF Illumination Project is an effort of a group of volunteers in Chicago to expose a decades-old finance scheme that annually extracts almost 500 million dollars of property taxes and places it in a program controlled by the mayor.

Town Meeting Throws Light on TIFs

Tom Tresser | Posted 04.21.2013 | Chicago
Tom Tresser

Over 200 people packed the Chopin Theater Tuesday night to hear about Tax Increment Financing (TIFs) and to organize themselves to do something about them.

Jen Sabella

CME Group's 'Golden Toilet'? Budget Cuts Renew Anger About Chicago TIFs

HuffingtonPost.com | Jen Sabella | Posted 01.25.2012 | Chicago

CHICAGO -- On Tuesday morning, a group of about 50 protesters gathered at the Board of Trade -- home of the CME Group -- to deliver a "golden toilet" ...

Lake Shore Drive Tolls, City Income Tax Could Be Ahead

Posted 11.27.2011 | Chicago

Charging a $5 toll for using Lake Shore Drive and introducing a separate city income tax are just two of several ideas City Hall's watchdog has for cl...

Rahm Faces Tough Questions, Hecklers At Second Town Hall

Posted 11.01.2011 | Chicago

While Chicago Mayor Rahm Emanuel's second town hall meeting this week was reportedly less heated than a Monday meeting where Emanuel was briefly booed...

City Greenlights $7M TIF For Upscale Greektown Grocer

Posted 09.12.2011 | Chicago

On Tuesday, the city's Community Development Commission approved a $7 million public subsidy, through the city's controversial tax increment financing...

Renewed Call for a TIF Moratorium

David Orr | Posted 06.08.2011 | Chicago
David Orr

For too long, TIFs were used as corporate subsidies. We have far too much at stake in our city to allow TIF money to be poorly used or misused.

Emanuel Will Tackle TIFs With New Aldermen

Chicago Sun-Times | Posted 05.25.2011 | Chicago

Mayor-elect Rahm Emanuel and some newly-elected aldermen say they are prepared to overhaul and rein in the city's Tax Increment Financing system, whic...

Daley Says If City Took Financial Advice From State, 'We'd Be Bankrupt'

Posted 05.25.2011 | Chicago

Chicago Mayor Richard Daley does not appreciate criticism--whether it's coming from the media, Democrats or Republicans. On Tuesday, he made this abun...

Parents Team Up To Get TIF Money To Struggling Schools

Chicago Reader | Posted 05.25.2011 | Chicago

If I hadn't seen it, I wouldn't believe it. There must have been more than 100 people--most of them parents of Chicago Public Schools students--sit...

Audit: Chicago Lost Over $1 Million Through Mishandled TIFs

Posted 05.25.2011 | Chicago

According to an audit by the city's Inspector General, Chicago lost well over $1 million dollars through poor oversight of its tax-increment financing...

Obama's "High Road" Contracting Policy Builds on Chicago's Living Wage Law: Now, Can Chicago Learn From Its Own Success?

Amy Traub | Posted 05.25.2011 | Chicago
Amy Traub

A soon-to-be introduced bill to expand the living wage to companies that directly or indirectly benefit from city subsidies such as tax increment financing will put the city to the test.

Alderman: East Loop Doesn't Need A TIF District

Chicago Real Estate Daily | Eddie Baeb | Posted 05.25.2011 | Chicago

Alderman Brendan Reilly (42nd) said he doesn't support a new tax-increment financing district for the East Loop. ...

City Has Nearly $1 Billion In Unspent TIF Money Stashed Away

Progress Illinois | Angela Caputo | Posted 05.25.2011 | Chicago

Over the past month, Mayor Daley's tax increment financing (TIF) system has attracted some much-needed scrutiny. ...

TIF Sunshine Ordinance Passes City Council 48-0

Huffington Post | Posted 05.25.2011 | Chicago

It's about to get a lot easier to find out where the reams of city taxpayer money spent on Tax Increment Financing districts goes. On Wednesday the C...

TIF Sunshine Ordinance Passes Committee

Huffington Post | Posted 05.25.2011 | Chicago

A bill that would require the City of Chicago to disclose all the financial details of murky Tax Increment Financing (TIF) deals is a step closer to b...

TIFS For Tots, Part Two

Posted 05.25.2011 | Chicago

Northwestern journalism student Adam Verwymeren earned acclaim for "TIFs For Tots," his hilarious cartoon primer on Mayor Daley's go-to development to...

Central Loop TIF Will Die

Crain's Chicago Business | Greg Hinz | Posted 05.25.2011 | Chicago

City Hall is putting a lid on Mayor Richard M. Daley's favorite honey pot. Facing apparent opposition from Gov. Rod Blagojevich, the Daley administra...

Chicago's Cost-Cutting Ideas

Chicago Sun-Times | Fran Spielman | Posted 05.25.2011 | Chicago

If too many cooks spoil the broth, the solution to Chicago's budget crisis will be one spoiled stew. Aldermen, union leaders and civic watchdogs are ...