Chicago's $895 Million Dollar Elephant in the Room

Another insightful article by Lynn Becker.

"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 (http://arcchicago.blogspot.com/2007/11/chicagos-895-million-dollar-elephant-in.html)

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