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•  Created by municipality (state statute)•  Designed to subsidize some business project in “blighted”or under-served area

•  “But for” concept – The project WOULD NOT happenexcept for receiving public subsidy

•  Boundaries cross political and community boundaries•  Captures “incremental” property taxes ABOVE base whendistrict was created

•  Lasts 23 years

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8

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Under state law, areas proposed for TIFdesignation must possess numerous blightingfactors to be eligible:

•   Age•  Obsolescence•

 Code violations•  Excessive vacancies

•  Overcrowding of facilities

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9Better Government Association

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:

;-< =- ,560 1-#>7When the TIF is created,the city tallies up all the

property taxes generatedby district in that year

(called the "base"

amount). After that, allproperty tax increasesabove the base (the

"increment") arechanneled to the TIFdistrict.

The property taxescollected from

properties inside thedistrict BEFORE thedistrict was created

that go to units ofgovernment stays

FLAT for the life of theTIF (23 years).

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•  All over Chicago and CookCounty = 443 TIFs in 2011

•  163 in city of Chicago•  Additional 280 in suburbanCook County

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A

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Source: Cook County Clerk

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Source: Cook County Clerk

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''

2011 TOTAL TIF REVENUE FOR COOK COUNTY

City of Chicago

TIFs diverted $454 MILLION

Suburban Cook County

TIFs diverted $275 MILLION

TOTAL FOR 2011 = $729 MILLION

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TIFs extracted $454 million in 2011.That # is 53% of the TOTAL amountof property taxes that went to the cityfor its operations!

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'+

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Ouch!

$4.5 BILLIONDIVERTEDSINCE 1986!

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'9

Click here to openthe 163 PDF

annual reports.One by one.

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':

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'?

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'@

THE CITY HAD1.7 BILLION INUNSPENT TIFFUNDS  AT THE END

OF 2011!

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'A

5."3D4 -I ,5607

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)*

Is YOUR  

ward a TIF

winner or

loser?

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)'

LET’S LOOK AT HOW TIFs WORK ON A

WARD-BY-WARD BASIS.CODERS, RESEARCHERS, DESIGNERS,INVESTIGATORS, ORGANIZERS.

 ALL VOLUNTEERS RIGHT NOW.

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))

The TIFs of the 46th Ward

Wilson Yard = 99%

Lakeside/Clarendon = 100%

Hollywood/Sheridan = 6%

Lawrence/Broadway = 45%

Clark/Montrose = 40%

Montrose/Clarendon = 100%

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)+

The 46th Ward is the39th  MOST TIF’dward in the city.

16% of the ward’s

properties are inTIF districts.

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)9

•  The Lakeside/Clarendon TIF has collected $693,000 in propertytaxes since it was created in 2004 through 2011! 100% inside theward.

•  The Wilson Yard TIF has collected $56.2 million since it wascreated in 2001. It is 99% inside the ward.

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):

The 46th Ward 2011property tax

revenue

collection

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)?

,2/

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)A

,2/

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TIF FUNDS INTO THE 46th WARD

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TIF FUNDS INTO THE 46th WARD

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TIF FUNDS INTO THE 46th WARD

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TIF FUNDS INTO THE 46th WARD?Lincoln

Park

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TIF FUNDS INTO THE 46th WARD?

2013

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+:

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+?

RECENT TIF CONTROVERSY

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+@

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+A

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