The city of Chicago has just approved 6 million dollars in tax increment financing (TIF) for Accretive Health Inc. “to pay for job training and the build-out costs” of a new facility, which will be located at 231 South LaSalle Street. By law, TIFs are intended to promote economic development in blighted areas, and this [...]
Tag Archives: TIF
Check Out a New Paper on TIF Transparency!
Although tax increment financing (TIF) has been around for over thirty years, many people do not understand how it works, how it affects their communities or their pocketbooks. Most people have no idea a significant portion of their property taxes are flowing into the hands of real-estate developers instead of their schools, public libraries or [...]
Rahm on TIF
Not many people understand tax increment financing (TIF) very well, and the lack of transparency in the TIF process, particularly in Chicago, leaves many taxpayers unaware of exactly where TIF developments are located, how many tax dollars are going into these TIFs, and how the money is being spent. Mayoral candidates looking to fill Daley’s [...]
TIF Clouds
A TIF sunshine ordinance passed last April for the city of Chicago and sparked some hope it would help people more clearly understand TIF and help them track the enormous of amount of tax dollars flowing into the various TIF districts throughout Chicago. The ordinance, unfortunately, hasn’t produced the results so eagerly anticipated, according to [...]
Update on the Wilson Yard TIF
Uptown Chicago taxpayers remain in the dark about the progress of the Wilson Yard TIF (tax increment financing) project.
Sears Tower became Willis Tower on your dime
It seems Chicago is still in denial about the (former) Sears Tower name change to “Willis Tower.” Numerous people have vowed not to accept the name and continue calling the tower by its traditional one. But, as Willis CEO Joe Plumeri put it, “You got to make a decision between sentimentality and the reality of [...]
City Taxpayers Have Right to See TIF Transparency
The Institute’s Director of Government Reform is featured in Crain’s Business discussing the importance of transparency regarding TIFs.