Lightfoot administration pushing TIF renewals to funnel billions in tax dollars into hot neighborhoods – Illinois Answers Project

The Kinzie Industrial Corridor tax-increment financing (TIF) district, which in 2020 pulled nearly $72 million in property taxes into the fund dedicated to West Loop and Near West Side capital projects, is one of nearly a dozen such districts city planning officials are pushing to keep alive through 2034 instead of letting them expire this year as scheduled. The 11 districts, all created more than 20 years ago, would otherwise be required under state law to expire and release their unspent funds back to local governments.