This presentation on the TIFs of the 2nd Ward has a focus on the proposed DePaul Stadium and was given at a forum organized by DePaul students on October 3, 2013 (see http://tinyurl.com/DePaulStadium-10-3). If you would like your own copy of this presentation that shows all the data from this ward as well as examples from the TIF Hall of Shame, please visit The TIF Data Store @ http://tinyurl.com/TIF-Data-Store. The TIF Illumination Project is 100% volunteer driven but we have serious monthly expenses to operate the CivicLab, our home, plus we’d like to build an online platform to make this information easy to access. Thanks! Contact = info@civiclab.us www.civiclab.us www.tifreports.com

1. August 27, 2014
Tom Tresser

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www.civiclab.us

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4. In the evening – open enrollment workshops on all things civic...
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“TIF 101”
“Vegan Cooking”

5. Watch the 2 ½ minute promo @ http://tinyurl.com/TIF-101-promo-YT
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What are TIFs?

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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

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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).

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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

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TIFs Used On These “Blighted” Areas
40 S. Halsted
Apple Store

11. Better Government Association 11

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Where are TIFs?
• All over Chicago and Cook
County = 435 TIFs in 2013
• 151 in city of Chicago
• Additional 284 in suburban
Cook County

15. Where are TIFs?
TIF 101 15

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Where are TIFs?

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How Much Revenue Do TIFs Collect?

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How Much Revenue Do TIFs Collect?
2013 TOTAL TIF REVENUE FOR COOK COUNTY
City of Chicago
TIFs diverted $422 MILLION
Suburban Cook County where
91 municipalities have TIFs
TIFs diverted $261 MILLION
TOTAL FOR 2013 = $683 MILLION

19. How Much Revenue Have TIFs Collected?
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Ouch!
Source: Cook County Clerk

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How Much Revenue Have TIFs Collected
Since TIFs Introduced Here?

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How Much Revenue Do TIFs Collect?
TIFs extracted $412.4 million in 2013.
That # is 56% of the TOTAL amount of
property taxes that went to the city for
its operations ($737.5 mm)! TIF = “Off
the books"
“On the books”

22. • We were told that TIFs have NO impact on our property taxes.
• This bill is from a property inside the Englewood TIF.
• It shows “0.00” impact on this person’s bill. Nothing.

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25. Clicked here
to open the
151 2013
PDF Annual
Reports.
One by one.
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27. Volunteer TIF Researchers Open TIF
Reports Look Up Designated Numbers and
Place Then Into Shared Spreadsheet…
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THE CITY HAD
$1.71 BILLION IN
UNSPENT TIF FUNDS
AT THE END OF 2013!

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What are TIFs doing to us?

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• # TIFs in your ward
• How much property tax $ extracted by those
TIF from ward
• How much $ left in those TIFs FROM ward at
end of year
• What projects in ward funded by TIFs
• Lifetime extraction of TIFs which are mostly in
your ward
• Any transfers of $ in or out of your TIFs
• $ extracted by city for “admin” costs

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The TIFs of the 23rd Ward

32. If you would like your own copy of this
presentation that shows all the data from
this ward as well as examples from the TIF
Hall of Shame, please visit The TIF Data
Store @ http://tinyurl.com/TIF-Data-Store.
The TIF Illumination Project is 100%
volunteer driven but we have serious
monthly expenses to operate the CivicLab,
our home, plus we’d like to build an online
platform to make this information easy to
access. Thanks!
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Contact = info@civiclab.us

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www.civiclab.us
www.tifreports.com