Record $1B TIF surplus emerges as key point of friction in Mayor Johnson’s proposed 2026 budget – Chicago Sun-Times

Ald. Jason Ervin, the Budget chair, joined the avalanche of opposition, noting that 70 percent of the TIF surplus is “coming out of socially economically disadvantaged areas” like his own West Side ward.
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Kwyjibo
7 months ago

City will get 22% of the TIF surplus or roughly $220M if they declare a $1B surplus. CPS also said they will contribute any excess surplus above the $380M in their budget back to the city to go to the municipal pension catch up payment. Under the proposed surplus CPS will get $520M; so $140M will go back to the city to pay for something they are not legally obligated to pay.

The total hit to the budget would be $360M if Alderman reject it.

Bob
7 months ago

Paying back the CTU for the 2 MILLION ILLEGAL dollars he was given during his mayoral campaign .

Deb
7 months ago

Johnson sells out “disadvantaged areas” that he says he is protecting for CTU, CPS and illegals. CPS could close empty and underutilized schools and lay off the staff. Then CPS could become financially solvent. But Johnson won’t disobey his master-CTU.

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