"TIF Geek" Ben Joravsky goes off in this week's Reader on the Daley school construction plan, which Joravsky says takes more money away from schools than it gives -- and highlights a problem with the state funding formula that rewards CPS for letting Daley divert TIF money from the schools.
"In one fell swoop, Daley managed to tweak the state for not paying more in education funds and look like the heroic protector of the citys schoolchildren, using the promise of new schools to camouflage the diversion by TIFs of millions from public education coffers." (Link: Chicago Reader: The Works.)
UPDATE: The Price of Daley's $1 Billion School Development Epoch Times
While one may argue that the "Modern Schools Across Chicago" project is
a shining example of the benefits of the TIF program, this 'free lunch'
as some have called itdue to beneficiaries receiving what they have
paid through increased assessmentsoften comes with a real cost.
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