This editorial urges the City of Chicago to declare a TIF surplus and use TIF funds to help fill budget gaps at the City of Chicago and Chicago Public Schools. The Civic Federation says that declaring a surplus is acceptable, provided the funds are there.
This article discusses a proposal to divert TIF funds to Chicago Public Schools. The Civic Federation says that TIFs are not the solution to CPS’ financial problems.
This article discusses findings presented by a TIF panel convened by City of Chicago Mayor Rahm Emanuel. Civic Federation President and panelist Laurence Msall says that the City has needed a TIF roadmap for decades and that efforts to reform the system must begin immediately.
This news segment discusses reforms to the City of Chicago TIF program as recommended by a panel assembled by Mayor Rahm Emanuel. Civic Federation President and panelist Laurence Msall says that many TIF districts or projects may be closed in order to redirect TIF monies elsewhere.
In this article about possible reforms to the City of Chicago TIF system, the Civic Federation says that the City and Chicago Public Schools could receive hundreds of millions of dollars if poorly performing TIF districts are closed.
Sun-Times columnist Mark Brown discusses the findings of the TIF panel convened by City of Chicago Mayor Rahm Emanuel. Civic Federation President Laurence Msall, who participated in the panel, says the panel’s recommendations will help improve the process of creating and reviewing TIF districts.
Today the Civic Federation published an update to its primer The Cook County Property Tax Extension Process: A Primer on Levies, Tax Caps, Tax Bills and the Effects of Tax Increment Financing Districts. The update adds additional years of data when available and provides an enhanced explanation of the effect of tax increment financing (TIF) on local governments and taxpayers in Cook County. This blog summarizes the TIF explanation included in the primer. For more detail and background, please…
In the Civic Federation’s “Recommendations for a Financially Sustainable City of Chicago” report issued last week, the Federation discussed the importance of a government making data about its operations available for public download. Municipalities often include data about budgets and tax increment financing on their websites, as well as information about traffic congestion, consumer complaints and locations of graffiti. The City of Chicago has a data portal website that has a variety…
The Civic Federation released today a comprehensive set of forty recommendations to improve the City of Chicago’s long-term fiscal condition. The new Federation report includes reforms that can be implemented now and over the next few fiscal years and cover a wide array of functions, from public works to procurement to pensions. The Civic Federation has in recent years become increasingly troubled by the condition of the City of Chicago’s finances. The Federation’s Chicago Finance initiative…
The purpose of this report is to provide the City of Chicago’s Mayor and City Council with detailed recommendations on ways to address the City’s serious financial challenges and create a government that is more efficient, less costly and more accountable. On February 14, 2011, the Civic Federation released Financial Challenges for the New Mayor which identifies the most significant fiscal issues facing the City of Chicago. Recommendations for a Financially Sustainable City of Chicago expands…
