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Response to msanthrope (Reply #14)

Thu Sep 13, 2012, 06:25 PM

15. Chicago ain't ready for TIF reform

http://www.chicagoreader.com/Bleader/archives/2011/08/30/chicago-aint-ready-for-tif-reform



Here's everything you need to know about Mayor Emanuel's self-heralded TIF reform: there is none!

Big surprise, huh?

Yes, yes—the mayor made good on his campaign promise to set up a task force to study the $500 million-a-year Tax Increment Financing slush fund.

And, yes, the task force prepared a report with pages and pages of information.

And, yes, the mayor released the report yesterday at a well-choreographed press conference that won him lots of coverage—you have to admit the guy's got a knack for public relations.

But the changes he's enacting are mostly limited to providing more information about the program—after the money's been spent. It won't rectify the central flaws in this boondoggle in any real way.

There are three basic problems with how city officials run the TIF program. One is that they take money intended to spur development in poor neighborhoods and spend most of it in rich neighborhoods.

Two, they jack up property taxes.

And three, they divert those taxes from the schools, parks, and other taxing bodies that really need it—especially the schools.

The mayor's TIF reforms would change none of these things.

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HiPointDem Sep 2012 OP
polichick Sep 2012 #1
backscatter712 Sep 2012 #8
polichick Sep 2012 #9
porphyrian Sep 2012 #2
rhett o rick Sep 2012 #5
porphyrian Sep 2012 #7
rhett o rick Sep 2012 #10
porphyrian Sep 2012 #11
msanthrope Sep 2012 #16
porphyrian Sep 2012 #22
rhett o rick Sep 2012 #27
porphyrian Sep 2012 #29
Blue_Tires Sep 2012 #13
porphyrian Sep 2012 #23
Hell Hath No Fury Sep 2012 #3
sabrina 1 Sep 2012 #4
rhett o rick Sep 2012 #26
backscatter712 Sep 2012 #6
Blue Owl Sep 2012 #12
HiPointDem Sep 2012 #17
msanthrope Sep 2012 #14
LineLineReply Chicago ain't ready for TIF reform
Teamster Jeff Sep 2012 #15
msanthrope Sep 2012 #18
Egalitarian Thug Sep 2012 #19
SoapBox Sep 2012 #20
Marrah_G Sep 2012 #21
marsis Sep 2012 #24
ladjf Sep 2012 #25
HiPointDem Sep 2012 #28
rhett o rick Sep 2012 #30
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fascisthunter Sep 2012 #37
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