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Tax Increment Financing

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Addressing the Financial Entanglements Between the City of Chicago and Chicago Public Schools

With the upcoming implementation of an elected school board to oversee Chicago Public Schools, the governance of CPS will be separated from the City of Chicago. The 21-member elected school…

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New Report Shows Record Revenue from Chicago TIFs, Declines in Suburbs

A report released by the Cook County Clerk last month found that revenue from TIF districts increased to a record $1.6 billion for FY2021,…

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How the City of Chicago Uses Tax Increment Financing Surplus

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Red Line transit TIF sets off debate on transportation funding

This article examines a new transit tax increment financing (TIF) district that will help fund the Chicago Transit Authority red line modernization. Laurence Msall, President of the Civic Federation, acknowledges that this is a creative…

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Civic Federation Supports FY2017 CTA Budget

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Coverage on the City of Chicago FY2017 Budget Release and Chicago Public Schools Finances

Following Mayor Rahm Emanuel’s FY2017 budget address, Civic Federation President Laurence Msall spoke with a pool of reporters about the finances of both the City of Chicago and Chicago Public Schools. He called the Mayor’s proposed budget…

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Chicago mayor buys peace with teachers, fiscal impact uncertain

This article reports on a tentative contract deal reached between the Chicago Public Schools and the Chicago Teachers Union. Civic Federation President Laurence Msall notes that CPS should not rely on TIF surplus funds, because they are…

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FY2016 Budget Season Summary

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Emanuel TIF reform too little, too late, critics contend

This article discusses Mayor Emanuel’s decision to freeze spending in certain downtown TIF districts and shut down the districts over time. The Civic Federation said the move shows the Mayor’s commitment to free up available resources to…

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The demagogues are wrong about TIFs

This article discusses Chicago’s Tax Increment Financing program and counters the argument that TIF districts take money that would otherwise go to public schools. When a TIF district is created its …