Monday, November 5, 2007

Chicago Tax Increment Financing Bullshit

Ben Joravsky has been doing a yeoman's work reporting on Tax Increment Financing (TIFs) in Chicago, and his piece in the most recent ChicagoReader is a good primer on the subject of TIFs, and a tidy little debunking of the misinformation the City has put online here.

Joravsky will do a better job explaining all the issues and nuances than I, so just go and read his work, and check out the Reader's TIF Archive, as well, to get up to speed.

And spread the word, Chicagoans. With the State, County, and City all poised to raise taxes at the same time due to massive budget shortfalls, it's disgusting, insulting, and obscene that there's over $895 Million just sitting around waiting to line the pockets of some developer who just finished licking Daley's taint.

1 comment:

moneymonk said...

The fact that TIF exist is bad enough without being patronized and treated like total idiots by the City's PR. What can and will we do?