Old TIF / New TIF

AM News:  CNC's writeup of what Daley spent all that TIF money seems like the most interesting of the CPS-related stories in the news this morning. As you'll see, a lot of TIF money got spent on CPS (school construction, especially) but then again a lot of it got spent on private developer subsidies, too.  Will the new TIF under Emanuel be any better for schools?  We don't really know yet.

Tracking Chicago’s TIF Spending CNC:  Roughly $865 million went to public projects like school construction, street repairs and Chicago Transit Authority stations and tracks. Between 2002 and September 2010 [Daley] used about $626 million for public projects, including rejuvenated CTA stations, 11 new schools, Millennium Park and dozens of other parks throughout the city. The $1.7 billion for public works was divided among schools (47 percent), “streets and public buildings” (40 percent) and parks (13 percent). In recent years, however, the balance of TIF spending has tilted more toward public works than private subsidies. The biggest factor in that shift was the city’s $515.2 million, seven-year initiative to build or renovate 23 schools. More than $340 million of the money earmarked for the schools program has already been spent, records show.

Investor Bruce Rauner mulls GOP gov bid Sun Times:  Rauner's name was floated for Chicago Public Schools CEO after Emanuel's election.

No layoff details yet in CPS budget cuts Tribune: For starters, the district's chief education officer is identifying and eliminating duplication in curriculum, instruction and some of the data-driven performance management programs started under former schools CEO Ron Huberman.

Maximum property tax hike sought for Chicago public schools Sun Times:  Chicago property taxes that fund schools would be raised to the maximum allowed by law for the first time in four years — costing the average homeowner an extra $84 a year — under a proposed Chicago Public School budget released Friday.

School districts step up border surveillance amid financial strain Tribune via Catalyst: The southwest suburban Orland Park district took a parent to court last spring after investigators determined his daughter attended a junior high school for two years even as the family resided 10 miles away in Blue Island.

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  • This sounds reminiscent of when Huberman was asked about TIFs diverting money from the schools, and basically replying "well, it built some schools."

    The more interesting question is how much the schools got compared to how much was diverted, and if any economic development resulted. Especially now that the schools are back to "we'll raise the property tax to the limit."

  • In an 8 year span 11 schools were built. Hmmmm it really is not a lot.
    Renovate schools? not mine
    Those diverted dollars should have gone to the neighborhood schools for teachers, books, and supplies.

  • The funds are going to the charter schools. CPS is systematically killing the neighborhood schools.

  • The real question is, how much of that money was spent on Charter Schools and not on traditional CPS neighborhood schools?

    With the lack of transparency from both the CPS and City Hall, I don’t think we will ever get a truthful answer to that question.

    All that money spent on rehabilitating Charter School buildings had to come from somewhere. Whenever a Charter School or TFA School opens, it is always in a renovated or new building. Frequently, De La Cruz for one, a traditional CPS Schools is closed because of poor building conditions and then money is spent on rehabbing the building for a Charter School.

    What a cynical way to run a school system.

  • UNO got de la cruz for $1.00. CPS paid for the fixing up of the school for UNO's and their utility bills. UNO moved out 1 year later. The building sits empty. WASTE-SHAME-SHAM

  • i've never seen a breakdown of how the TIF funds for schools were split between charters and neighborhood schools -- can you show me the link or tell me where to find it?

    meantime, here's the readers' take on the TIF latest -- they're not satisfied, naturally -- esp. with TIF funds going to developers and areas that don't need it

    http://www.chicagoreader.com/chicago/rahm-emanuel-tifs-near-west-side-joe-ferguson-world-business-chicago-block-37-millercoors/Content?oid=4360266

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