Chicago's $895 Million Dollar Elephant in the Room
This is a discussion on Chicago's $895 Million Dollar Elephant in the Room within the Windy City Chat forums, part of the Windy City Forums category; Another insightful article by Lynn Becker. "The mayor has taken a sound development tool - the TIF, or tax increment ...
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November 4th, 2007
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 Chicago's $895 Million Dollar Elephant in the Room "The mayor has taken a sound development tool - the TIF, or tax increment financing, district, used to jump-start private investment in depressed neighborhoods - and transformed it into a massive slush fund that diverts nearly $400 million each year from schools and basic city services." ArchitectureChicago PLUS
__________________ Parkshore Gal SAVEGRANTPARK.ORG         |
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November 4th, 2007
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What does this have to do with Architecture? hehe, but this is a huge issue... he is right to bring it up. Such a large city or any city for that matter should not have a "hidden" budget. I remember Natarus being asked to explain the whole TIF thing at a NEAR meeting a year or two ago and I was left more confused (not sure if he knew what he was talking about). Eric |
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