Posts tagged "Tax increment financing"

DePaul gets an arena, but what does the community gain?

DePaul gets an arena, but what does the community gain?
Big urban projects like sports arenas often come with a time-worn narrative: They will create tourism and attract new jobs and a tidy return on investment. City support for the controversial DePaul  University basketball arena is no different.  A City of Chicago news release stated that the arena, which will be located near McCormick Place... Read more »

Three days left for TIF reform in the veto session

Three days left for TIF reform in the veto session
Tuesday, Wednesday and Thursday. Those are the three days left in the Illinois General Assembly’s fall veto session. What hangs in the balance? Tax Increment Financing District, or TIF, reform. Under SB540, state Sen. Dan Kotowski is proposing to add a new layer of state oversight as a check on the way municipalities approach TIF... Read more »

Amid TIF controversies, taskforce meets Thursday

Amid TIF controversies, taskforce meets Thursday
Mayor Rahm Emanuel’s rhetoric about the city’s Tax Increment Financing District, or TIF, program suggests some sort of revamp of how Chicago uses TIF dollars is in the making. In May, the Chicago Sun-Times quoted the mayor as promising to take “politics out of” TIFs, which, Emanuel said, should return to its roots. “It is... Read more »
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Feds take a leaf out of Chicago's play book with tax benefits for wealthy neighborhoods

If you’ve heard complaints about Chicago’s Tax Increment Financing program, it’s probably this: a measures designed to help “blighted” neighborhoods is used to line the pockets of wealthy businessmen. But a new investigation from Bloomberg news says this kind of corruption isn’t just the Chicago way. Uncle Sam has now followed suit, shows Bloomberg, with... Read more »

Chicago's mayor candidates play 'Jenny from the block,' but who's got the guts to actually help poor folks?

All the candidates who hope to be Chicago’s next mayor love to spend time telling us why they’re better than the next guy. But lately, they’ve entered into a new competition–one that seems a little ridiculous at times–who’s more “street” than the next guy. Today’s Chicago Tribune chronicles the ways each candidate tries to claim... Read more »