Editorial: TIF surplus won’t solve Chicago’s budget woes — but it can do some good – Chicago Sun-Times

“'This is somewhat of an insider’s game,' said Laurence Msall, president of the Civic Federation, a budget watchdog group. 'Although they provide detailed information about the funds, unless you’re inside City Hall, you don’t really know what projects are moving forward.'... It was originally intended to restore 'blighted' neighborhoods. It’s since become a funding mechanism for projects of all kinds across Chicago and the rest of Illinois."

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check what you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.

Read More »

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE