SlideShare une entreprise Scribd logo
1  sur  34
July 23, 2015
Tom Tresser
312-804-3230 – tom@civiclab.us
2
3
Key Policy Questions
1. Under what circumstances do we give public $ to private
business?
2. Who plans what for whom? AKA, What defines
“community development”?
3. Are we broke?
4. Who’s watching our back?
4
What are TIFs?
5
What are TIFs?
• Created by municipality (state
statute)
• Boundaries cross political and
community boundaries
• Designed to subsidize some
business project in “blighted” or
under-served area
• Captures “incremental” property
taxes ABOVE base when district
was created
• Lasts 23 years
6
How Do TIFs Work?
When the TIF is created,
the city tallies up all the
property taxes
generated by district in
that year (called the
"base" amount). After
that, all property tax
increases above the
base (the "increment")
are channeled to the TIF
district.
The property taxes
collected from
properties inside the
district BEFORE the
district was created
that go to units of
government stays
FLAT for the life of the
TIF (23 years).
7
Money From TIFs Taken From?
8
What are TIFs?
Under state law, areas proposed for TIF designation
must possess numerous blighting factors to be
eligible:
• Age
• Obsolescence
• Code violations
• Excessive vacancies
• Overcrowding of facilities
9
TIFs Used to support commercial projects in
these “Blighted” Areas
40 S. Halsted
Apple Store
10Better Government Association
11
12
13
14
15
Mr. TIF
It’s an Illinois thing…
To sum up:
 TIFs = property taxes
 Increment $ collected by TIF
 Run by city
 Lasts 23 years
 Blight & “But for” conditions
 Hard to track
 BIG deal in Chicago & Illinois
18
What are TIFs doing to us?
19
20
That’s all we’re going to show you in this free
version of the presentation. If you want the FULL
deck with the particulars of the 8 TIFs of the 35th
Ward we’re going to ask for a contribution via our
TIF Data Store. Just click over to
http://www.tifreports.com/store and select “TIF
Illumination” and then you can browse for the 35th
Ward presentation.
The 8 TIFs of the 35th Ward
TIF FUNDS IN THE 2nd WARD
UPDATE - $55 MILLION TIF
FUNDING SHIFTED TO
MARRIOTT HOTEL FROM
DePAUL STADIUM.
PIER AUTHORITY TO PUT UP
$100 MILLION FOR
STADIUM PROJECT!
SERVING UP TIF FUNDS IN THE
3rd WARD
24
4TH WARD TIF CONTROVERSY
25
TIF FUNDS IN LINCOLN PARK
TIF FUNDS IN THE 46th WARD
Lincoln
Park
11th WARD - DO YOU WANT SOME
MUSTARD WITH THAT TIF?
WHERE ARE PARKS MOST NEEDED?
29
TIF FUNDS IN THE 9th WARD
The 8 TIFs of the 35th Ward
31
1.
TIFs hoard taxes in
prosperous communities
– starve poor
communities.
32
Authors plead "Our
message is simple:
'Please, please, if you're
going to offer incentives,
don't give them to every
firm that asks -- Don't!
Ninety percent of the
time they don't work, and
handing them out after a
company has already
located in an area
without them makes no
sense at all."
33
34
http://tinyurl.com/TIP-Crowdfunding-Campaign

Contenu connexe

En vedette

Voice recognition based advance patients room automation
Voice recognition based advance patients room automationVoice recognition based advance patients room automation
Voice recognition based advance patients room automationeSAT Journals
 
Community Organizing 101
Community Organizing 101Community Organizing 101
Community Organizing 101Tom Tresser
 
Beyond Facebook Awareness Integrating Facebook Advertising at Every Stage of ...
Beyond Facebook Awareness Integrating Facebook Advertising at Every Stage of ...Beyond Facebook Awareness Integrating Facebook Advertising at Every Stage of ...
Beyond Facebook Awareness Integrating Facebook Advertising at Every Stage of ...Marketing Land
 
KCIAPM SLIDE SEMINAR 2016: RV METROPOLIS. CASE FILES
KCIAPM SLIDE SEMINAR 2016: RV METROPOLIS. CASE FILESKCIAPM SLIDE SEMINAR 2016: RV METROPOLIS. CASE FILES
KCIAPM SLIDE SEMINAR 2016: RV METROPOLIS. CASE FILESkciapm
 
The benefits of Quality Management System
The benefits of Quality Management SystemThe benefits of Quality Management System
The benefits of Quality Management SystemRobert Ginsberg
 
The Social Marketing Construct
The Social Marketing ConstructThe Social Marketing Construct
The Social Marketing ConstructJon Gatrell
 

En vedette (9)

Voice recognition based advance patients room automation
Voice recognition based advance patients room automationVoice recognition based advance patients room automation
Voice recognition based advance patients room automation
 
Community Organizing 101
Community Organizing 101Community Organizing 101
Community Organizing 101
 
Beyond Facebook Awareness Integrating Facebook Advertising at Every Stage of ...
Beyond Facebook Awareness Integrating Facebook Advertising at Every Stage of ...Beyond Facebook Awareness Integrating Facebook Advertising at Every Stage of ...
Beyond Facebook Awareness Integrating Facebook Advertising at Every Stage of ...
 
KCIAPM SLIDE SEMINAR 2016: RV METROPOLIS. CASE FILES
KCIAPM SLIDE SEMINAR 2016: RV METROPOLIS. CASE FILESKCIAPM SLIDE SEMINAR 2016: RV METROPOLIS. CASE FILES
KCIAPM SLIDE SEMINAR 2016: RV METROPOLIS. CASE FILES
 
Vascular tumors 8
Vascular tumors 8Vascular tumors 8
Vascular tumors 8
 
Qms
QmsQms
Qms
 
The benefits of Quality Management System
The benefits of Quality Management SystemThe benefits of Quality Management System
The benefits of Quality Management System
 
hull inspection class
hull inspection classhull inspection class
hull inspection class
 
The Social Marketing Construct
The Social Marketing ConstructThe Social Marketing Construct
The Social Marketing Construct
 

Plus de Tom Tresser

Roberson-Pornography as a Health Issue- 3/28/24
Roberson-Pornography as a Health Issue- 3/28/24Roberson-Pornography as a Health Issue- 3/28/24
Roberson-Pornography as a Health Issue- 3/28/24Tom Tresser
 
Jimenez-Migrant Crisis Presentation-March 2024
Jimenez-Migrant Crisis Presentation-March 2024Jimenez-Migrant Crisis Presentation-March 2024
Jimenez-Migrant Crisis Presentation-March 2024Tom Tresser
 
Chacon-Immigration presentation MArch 2024
Chacon-Immigration presentation MArch 2024Chacon-Immigration presentation MArch 2024
Chacon-Immigration presentation MArch 2024Tom Tresser
 
Nurdinova-Domestic Violence presentation
Nurdinova-Domestic Violence presentationNurdinova-Domestic Violence presentation
Nurdinova-Domestic Violence presentationTom Tresser
 
i c stars Cycle 54 "Civics 101" - Session 3
i c stars Cycle 54 "Civics 101" - Session 3i c stars Cycle 54 "Civics 101" - Session 3
i c stars Cycle 54 "Civics 101" - Session 3Tom Tresser
 
i c stars Cycle 54 "Civics 101" - Session 2
i c stars Cycle 54 "Civics 101" - Session 2i c stars Cycle 54 "Civics 101" - Session 2
i c stars Cycle 54 "Civics 101" - Session 2Tom Tresser
 
i c stars Cycle 54 "Civics 101" - Session 1
i c stars Cycle 54 "Civics 101" - Session 1i c stars Cycle 54 "Civics 101" - Session 1
i c stars Cycle 54 "Civics 101" - Session 1Tom Tresser
 
Tom Tresser "Civics 101" Intrdouction - 2/24
Tom Tresser "Civics 101" Intrdouction - 2/24Tom Tresser "Civics 101" Intrdouction - 2/24
Tom Tresser "Civics 101" Intrdouction - 2/24Tom Tresser
 
The "We Say No Games" Fight Song from 2009
The "We Say No Games" Fight Song from 2009The "We Say No Games" Fight Song from 2009
The "We Say No Games" Fight Song from 2009Tom Tresser
 
Introduction to No Games Chicago
Introduction to No Games ChicagoIntroduction to No Games Chicago
Introduction to No Games ChicagoTom Tresser
 
Introduction to No Boston Olympics
Introduction to No Boston OlympicsIntroduction to No Boston Olympics
Introduction to No Boston OlympicsTom Tresser
 
i c stars "Civic 101" KC C1 - Class 3
 i c stars "Civic 101" KC C1 - Class 3 i c stars "Civic 101" KC C1 - Class 3
i c stars "Civic 101" KC C1 - Class 3Tom Tresser
 
i c stars "Civic 101" KC C1 - Class 2
i c stars "Civic 101" KC C1 - Class 2i c stars "Civic 101" KC C1 - Class 2
i c stars "Civic 101" KC C1 - Class 2Tom Tresser
 
i c stars "Civic 101" KC C1 - Class 1
i c stars "Civic 101" KC C1 - Class 1 i c stars "Civic 101" KC C1 - Class 1
i c stars "Civic 101" KC C1 - Class 1 Tom Tresser
 
Aurora TIF meeting 11-4-23
Aurora TIF meeting 11-4-23 Aurora TIF meeting 11-4-23
Aurora TIF meeting 11-4-23 Tom Tresser
 
Cycle 53 - "Civics 101" Class 4
Cycle 53 - "Civics 101" Class 4Cycle 53 - "Civics 101" Class 4
Cycle 53 - "Civics 101" Class 4Tom Tresser
 
Livermore-Self Esteem.pptx
Livermore-Self Esteem.pptxLivermore-Self Esteem.pptx
Livermore-Self Esteem.pptxTom Tresser
 
"Civics 101" -Cycle 53 - Class 3
"Civics 101" -Cycle 53 - Class 3 "Civics 101" -Cycle 53 - Class 3
"Civics 101" -Cycle 53 - Class 3 Tom Tresser
 
"Civics 101" - Cycle 53 - Class 2
"Civics 101" - Cycle 53 - Class 2"Civics 101" - Cycle 53 - Class 2
"Civics 101" - Cycle 53 - Class 2Tom Tresser
 
"Civics 101" - Cycle 53 - Class 1.pptx
"Civics 101" - Cycle 53 - Class 1.pptx"Civics 101" - Cycle 53 - Class 1.pptx
"Civics 101" - Cycle 53 - Class 1.pptxTom Tresser
 

Plus de Tom Tresser (20)

Roberson-Pornography as a Health Issue- 3/28/24
Roberson-Pornography as a Health Issue- 3/28/24Roberson-Pornography as a Health Issue- 3/28/24
Roberson-Pornography as a Health Issue- 3/28/24
 
Jimenez-Migrant Crisis Presentation-March 2024
Jimenez-Migrant Crisis Presentation-March 2024Jimenez-Migrant Crisis Presentation-March 2024
Jimenez-Migrant Crisis Presentation-March 2024
 
Chacon-Immigration presentation MArch 2024
Chacon-Immigration presentation MArch 2024Chacon-Immigration presentation MArch 2024
Chacon-Immigration presentation MArch 2024
 
Nurdinova-Domestic Violence presentation
Nurdinova-Domestic Violence presentationNurdinova-Domestic Violence presentation
Nurdinova-Domestic Violence presentation
 
i c stars Cycle 54 "Civics 101" - Session 3
i c stars Cycle 54 "Civics 101" - Session 3i c stars Cycle 54 "Civics 101" - Session 3
i c stars Cycle 54 "Civics 101" - Session 3
 
i c stars Cycle 54 "Civics 101" - Session 2
i c stars Cycle 54 "Civics 101" - Session 2i c stars Cycle 54 "Civics 101" - Session 2
i c stars Cycle 54 "Civics 101" - Session 2
 
i c stars Cycle 54 "Civics 101" - Session 1
i c stars Cycle 54 "Civics 101" - Session 1i c stars Cycle 54 "Civics 101" - Session 1
i c stars Cycle 54 "Civics 101" - Session 1
 
Tom Tresser "Civics 101" Intrdouction - 2/24
Tom Tresser "Civics 101" Intrdouction - 2/24Tom Tresser "Civics 101" Intrdouction - 2/24
Tom Tresser "Civics 101" Intrdouction - 2/24
 
The "We Say No Games" Fight Song from 2009
The "We Say No Games" Fight Song from 2009The "We Say No Games" Fight Song from 2009
The "We Say No Games" Fight Song from 2009
 
Introduction to No Games Chicago
Introduction to No Games ChicagoIntroduction to No Games Chicago
Introduction to No Games Chicago
 
Introduction to No Boston Olympics
Introduction to No Boston OlympicsIntroduction to No Boston Olympics
Introduction to No Boston Olympics
 
i c stars "Civic 101" KC C1 - Class 3
 i c stars "Civic 101" KC C1 - Class 3 i c stars "Civic 101" KC C1 - Class 3
i c stars "Civic 101" KC C1 - Class 3
 
i c stars "Civic 101" KC C1 - Class 2
i c stars "Civic 101" KC C1 - Class 2i c stars "Civic 101" KC C1 - Class 2
i c stars "Civic 101" KC C1 - Class 2
 
i c stars "Civic 101" KC C1 - Class 1
i c stars "Civic 101" KC C1 - Class 1 i c stars "Civic 101" KC C1 - Class 1
i c stars "Civic 101" KC C1 - Class 1
 
Aurora TIF meeting 11-4-23
Aurora TIF meeting 11-4-23 Aurora TIF meeting 11-4-23
Aurora TIF meeting 11-4-23
 
Cycle 53 - "Civics 101" Class 4
Cycle 53 - "Civics 101" Class 4Cycle 53 - "Civics 101" Class 4
Cycle 53 - "Civics 101" Class 4
 
Livermore-Self Esteem.pptx
Livermore-Self Esteem.pptxLivermore-Self Esteem.pptx
Livermore-Self Esteem.pptx
 
"Civics 101" -Cycle 53 - Class 3
"Civics 101" -Cycle 53 - Class 3 "Civics 101" -Cycle 53 - Class 3
"Civics 101" -Cycle 53 - Class 3
 
"Civics 101" - Cycle 53 - Class 2
"Civics 101" - Cycle 53 - Class 2"Civics 101" - Cycle 53 - Class 2
"Civics 101" - Cycle 53 - Class 2
 
"Civics 101" - Cycle 53 - Class 1.pptx
"Civics 101" - Cycle 53 - Class 1.pptx"Civics 101" - Cycle 53 - Class 1.pptx
"Civics 101" - Cycle 53 - Class 1.pptx
 

Dernier

india sanitation coalition Swachata Abhiyan ​.pdf
india sanitation coalition Swachata Abhiyan ​.pdfindia sanitation coalition Swachata Abhiyan ​.pdf
india sanitation coalition Swachata Abhiyan ​.pdfcoalitionindiasanita
 
Water for Prosperity and peace - United Nations World Water Development Repo...
Water for Prosperity and peace -  United Nations World Water Development Repo...Water for Prosperity and peace -  United Nations World Water Development Repo...
Water for Prosperity and peace - United Nations World Water Development Repo...Christina Parmionova
 
National Women's Month Celebration for PENRO Quezon
National Women's Month Celebration for PENRO QuezonNational Women's Month Celebration for PENRO Quezon
National Women's Month Celebration for PENRO QuezonAryaCapale
 
Children who live with Grandparents are really lucky
Children who live with Grandparents are really luckyChildren who live with Grandparents are really lucky
Children who live with Grandparents are really luckySERUDS INDIA
 
Best charity ideas parents give their children’s
Best charity ideas parents give their children’sBest charity ideas parents give their children’s
Best charity ideas parents give their children’sSERUDS INDIA
 
Living life to the full: How can we make our longer lives healthier, happier ...
Living life to the full: How can we make our longer lives healthier, happier ...Living life to the full: How can we make our longer lives healthier, happier ...
Living life to the full: How can we make our longer lives healthier, happier ...ResolutionFoundation
 
World Happiness Report 2024- Full Report
World Happiness Report 2024- Full ReportWorld Happiness Report 2024- Full Report
World Happiness Report 2024- Full ReportEnergy for One World
 
Water and peace go hand-in hand. World Water Day 2024
Water and peace go hand-in hand. World Water Day 2024Water and peace go hand-in hand. World Water Day 2024
Water and peace go hand-in hand. World Water Day 2024Christina Parmionova
 
Leveraging Water for Peace - World Water Day 2024
Leveraging Water for Peace - World Water Day 2024Leveraging Water for Peace - World Water Day 2024
Leveraging Water for Peace - World Water Day 2024Christina Parmionova
 
OECD Webinar - ESG to deliver well-being in resource-rich regions: the role o...
OECD Webinar - ESG to deliver well-being in resource-rich regions: the role o...OECD Webinar - ESG to deliver well-being in resource-rich regions: the role o...
OECD Webinar - ESG to deliver well-being in resource-rich regions: the role o...OECDregions
 
Water can create peace or spark conflict.
Water can create peace or spark conflict.Water can create peace or spark conflict.
Water can create peace or spark conflict.Christina Parmionova
 
Parents can give charity ideas for kids.
Parents can give charity ideas for kids.Parents can give charity ideas for kids.
Parents can give charity ideas for kids.SERUDS INDIA
 
War in Ukraine and problematics of the Ukrainian refugees in USA
War in Ukraine and problematics of the Ukrainian refugees in USAWar in Ukraine and problematics of the Ukrainian refugees in USA
War in Ukraine and problematics of the Ukrainian refugees in USAival6
 
For World Water Day 2024, we promote the vital link between water and peace.
For World Water Day 2024, we promote the vital link between water and peace.For World Water Day 2024, we promote the vital link between water and peace.
For World Water Day 2024, we promote the vital link between water and peace.Christina Parmionova
 
Item # 1a - March 18, 2024 Special CCM Minutes
Item # 1a - March 18, 2024 Special CCM MinutesItem # 1a - March 18, 2024 Special CCM Minutes
Item # 1a - March 18, 2024 Special CCM Minutesahcitycouncil
 
CBO’s Work on Health Care and a Call for New Research
CBO’s Work on Health Care and a Call for New ResearchCBO’s Work on Health Care and a Call for New Research
CBO’s Work on Health Care and a Call for New ResearchCongressional Budget Office
 
Item # 5&6 - 218 Canyon Drive replat prop.
Item # 5&6 - 218 Canyon Drive replat prop.Item # 5&6 - 218 Canyon Drive replat prop.
Item # 5&6 - 218 Canyon Drive replat prop.ahcitycouncil
 
DB9_BTR_Webinar_Slidedeck_20230320 (1).pptx
DB9_BTR_Webinar_Slidedeck_20230320 (1).pptxDB9_BTR_Webinar_Slidedeck_20230320 (1).pptx
DB9_BTR_Webinar_Slidedeck_20230320 (1).pptxNAP Global Network
 
2024: The FAR, Federal Acquisition Regulations - Part 17
2024: The FAR, Federal Acquisition Regulations - Part 172024: The FAR, Federal Acquisition Regulations - Part 17
2024: The FAR, Federal Acquisition Regulations - Part 17JSchaus & Associates
 
SPONSORED CONTENT - MyGovWatch - RFP Cliches Debunked: What Government Buyers...
SPONSORED CONTENT - MyGovWatch - RFP Cliches Debunked: What Government Buyers...SPONSORED CONTENT - MyGovWatch - RFP Cliches Debunked: What Government Buyers...
SPONSORED CONTENT - MyGovWatch - RFP Cliches Debunked: What Government Buyers...JSchaus & Associates
 

Dernier (20)

india sanitation coalition Swachata Abhiyan ​.pdf
india sanitation coalition Swachata Abhiyan ​.pdfindia sanitation coalition Swachata Abhiyan ​.pdf
india sanitation coalition Swachata Abhiyan ​.pdf
 
Water for Prosperity and peace - United Nations World Water Development Repo...
Water for Prosperity and peace -  United Nations World Water Development Repo...Water for Prosperity and peace -  United Nations World Water Development Repo...
Water for Prosperity and peace - United Nations World Water Development Repo...
 
National Women's Month Celebration for PENRO Quezon
National Women's Month Celebration for PENRO QuezonNational Women's Month Celebration for PENRO Quezon
National Women's Month Celebration for PENRO Quezon
 
Children who live with Grandparents are really lucky
Children who live with Grandparents are really luckyChildren who live with Grandparents are really lucky
Children who live with Grandparents are really lucky
 
Best charity ideas parents give their children’s
Best charity ideas parents give their children’sBest charity ideas parents give their children’s
Best charity ideas parents give their children’s
 
Living life to the full: How can we make our longer lives healthier, happier ...
Living life to the full: How can we make our longer lives healthier, happier ...Living life to the full: How can we make our longer lives healthier, happier ...
Living life to the full: How can we make our longer lives healthier, happier ...
 
World Happiness Report 2024- Full Report
World Happiness Report 2024- Full ReportWorld Happiness Report 2024- Full Report
World Happiness Report 2024- Full Report
 
Water and peace go hand-in hand. World Water Day 2024
Water and peace go hand-in hand. World Water Day 2024Water and peace go hand-in hand. World Water Day 2024
Water and peace go hand-in hand. World Water Day 2024
 
Leveraging Water for Peace - World Water Day 2024
Leveraging Water for Peace - World Water Day 2024Leveraging Water for Peace - World Water Day 2024
Leveraging Water for Peace - World Water Day 2024
 
OECD Webinar - ESG to deliver well-being in resource-rich regions: the role o...
OECD Webinar - ESG to deliver well-being in resource-rich regions: the role o...OECD Webinar - ESG to deliver well-being in resource-rich regions: the role o...
OECD Webinar - ESG to deliver well-being in resource-rich regions: the role o...
 
Water can create peace or spark conflict.
Water can create peace or spark conflict.Water can create peace or spark conflict.
Water can create peace or spark conflict.
 
Parents can give charity ideas for kids.
Parents can give charity ideas for kids.Parents can give charity ideas for kids.
Parents can give charity ideas for kids.
 
War in Ukraine and problematics of the Ukrainian refugees in USA
War in Ukraine and problematics of the Ukrainian refugees in USAWar in Ukraine and problematics of the Ukrainian refugees in USA
War in Ukraine and problematics of the Ukrainian refugees in USA
 
For World Water Day 2024, we promote the vital link between water and peace.
For World Water Day 2024, we promote the vital link between water and peace.For World Water Day 2024, we promote the vital link between water and peace.
For World Water Day 2024, we promote the vital link between water and peace.
 
Item # 1a - March 18, 2024 Special CCM Minutes
Item # 1a - March 18, 2024 Special CCM MinutesItem # 1a - March 18, 2024 Special CCM Minutes
Item # 1a - March 18, 2024 Special CCM Minutes
 
CBO’s Work on Health Care and a Call for New Research
CBO’s Work on Health Care and a Call for New ResearchCBO’s Work on Health Care and a Call for New Research
CBO’s Work on Health Care and a Call for New Research
 
Item # 5&6 - 218 Canyon Drive replat prop.
Item # 5&6 - 218 Canyon Drive replat prop.Item # 5&6 - 218 Canyon Drive replat prop.
Item # 5&6 - 218 Canyon Drive replat prop.
 
DB9_BTR_Webinar_Slidedeck_20230320 (1).pptx
DB9_BTR_Webinar_Slidedeck_20230320 (1).pptxDB9_BTR_Webinar_Slidedeck_20230320 (1).pptx
DB9_BTR_Webinar_Slidedeck_20230320 (1).pptx
 
2024: The FAR, Federal Acquisition Regulations - Part 17
2024: The FAR, Federal Acquisition Regulations - Part 172024: The FAR, Federal Acquisition Regulations - Part 17
2024: The FAR, Federal Acquisition Regulations - Part 17
 
SPONSORED CONTENT - MyGovWatch - RFP Cliches Debunked: What Government Buyers...
SPONSORED CONTENT - MyGovWatch - RFP Cliches Debunked: What Government Buyers...SPONSORED CONTENT - MyGovWatch - RFP Cliches Debunked: What Government Buyers...
SPONSORED CONTENT - MyGovWatch - RFP Cliches Debunked: What Government Buyers...
 

The 8 TIFs of the 35th Ward

  • 1. July 23, 2015 Tom Tresser 312-804-3230 – tom@civiclab.us
  • 2. 2
  • 3. 3 Key Policy Questions 1. Under what circumstances do we give public $ to private business? 2. Who plans what for whom? AKA, What defines “community development”? 3. Are we broke? 4. Who’s watching our back?
  • 5. 5 What are TIFs? • Created by municipality (state statute) • Boundaries cross political and community boundaries • Designed to subsidize some business project in “blighted” or under-served area • Captures “incremental” property taxes ABOVE base when district was created • Lasts 23 years
  • 6. 6 How Do TIFs Work? When the TIF is created, the city tallies up all the property taxes generated by district in that year (called the "base" amount). After that, all property tax increases above the base (the "increment") are channeled to the TIF district. The property taxes collected from properties inside the district BEFORE the district was created that go to units of government stays FLAT for the life of the TIF (23 years).
  • 7. 7 Money From TIFs Taken From?
  • 8. 8 What are TIFs? Under state law, areas proposed for TIF designation must possess numerous blighting factors to be eligible: • Age • Obsolescence • Code violations • Excessive vacancies • Overcrowding of facilities
  • 9. 9 TIFs Used to support commercial projects in these “Blighted” Areas 40 S. Halsted Apple Store
  • 11. 11
  • 12. 12
  • 13. 13
  • 14. 14
  • 16. It’s an Illinois thing…
  • 17. To sum up:  TIFs = property taxes  Increment $ collected by TIF  Run by city  Lasts 23 years  Blight & “But for” conditions  Hard to track  BIG deal in Chicago & Illinois
  • 18. 18 What are TIFs doing to us?
  • 19. 19
  • 20. 20 That’s all we’re going to show you in this free version of the presentation. If you want the FULL deck with the particulars of the 8 TIFs of the 35th Ward we’re going to ask for a contribution via our TIF Data Store. Just click over to http://www.tifreports.com/store and select “TIF Illumination” and then you can browse for the 35th Ward presentation.
  • 22. TIF FUNDS IN THE 2nd WARD UPDATE - $55 MILLION TIF FUNDING SHIFTED TO MARRIOTT HOTEL FROM DePAUL STADIUM. PIER AUTHORITY TO PUT UP $100 MILLION FOR STADIUM PROJECT!
  • 23. SERVING UP TIF FUNDS IN THE 3rd WARD
  • 24. 24 4TH WARD TIF CONTROVERSY
  • 25. 25 TIF FUNDS IN LINCOLN PARK
  • 26. TIF FUNDS IN THE 46th WARD Lincoln Park
  • 27. 11th WARD - DO YOU WANT SOME MUSTARD WITH THAT TIF?
  • 28. WHERE ARE PARKS MOST NEEDED?
  • 29. 29 TIF FUNDS IN THE 9th WARD
  • 31. 31 1. TIFs hoard taxes in prosperous communities – starve poor communities.
  • 32. 32 Authors plead "Our message is simple: 'Please, please, if you're going to offer incentives, don't give them to every firm that asks -- Don't! Ninety percent of the time they don't work, and handing them out after a company has already located in an area without them makes no sense at all."
  • 33. 33