Chicago Mayor Brandon Johnson won’t commit to alternatives to property tax hike – CBS2 (Chicago)

The mayor maintains his promise to fund the pension program, and is refusing layoffs or furloughs to city staff. "Well, I know that those ideas are on the table, but here's the good news: People are bringing more ideas to the table," he said. "That's a good thing."
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MsT
1 year ago

Here’s two revenue ideas: 1) Any TIF funds provided for real estate purposes shall create an equity interest in the property developed equal to the TIF funds share of the final cost of creating the property asset; any rents collected from such properties, shall be split equitably among the investors, including the tax payers; and, 2) any tax credits granted to the property shall be amortized over the useful life of the property and shall be reimbursed to the City starting with the third year following the “move-in” of the first tenant by the investors.

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