TIF districts

“I assume this $25 million is part of that $50 million. Similarly, with the $5 million for the 78 is part of the $424 million. I assume that’s the case with all the other. Projects that they have been approved in prior TIF asks, and these aren’t new TIF asks going through this.”

“For example, the Hall Library, because it is a public facility, was basically a discussion between 2FM, PBC, and my office about the need to do that library. And TIF funds are being authorized from that TIF to fix that library.”

“Do you actually think that’s fair? Do you actually think that that’s fair, that the mayor’s office has the final determination on what projects move forward as it relates to TIF projects with CPS?”

“This is for Gage Park specifically? Correct. So, at what point were you going to engage either the local aldermen or DPD To say we need matching funds to the tune of about $19 million from TIF or what have you to create a neighborhood library in this area.”

“We’ve been collaborating a lot on the studies around the inequity of the program. You know, for the last 40 years, about 70% of all TIFs have gone to the same areas, and that creates serious inequities.”

“Because again, I’m just fascinated at the fact that here we are 7 years later talking about Having passed TIFs for 2 projects that prior to COVID would have potentially created revenue and put us in a better position.”

“We don’t represent political interests or ideologies. We represent the people who are paying into the system. So going into a couple of things that you brought up there, the TIF surplus— has the reliance on this one-time revenue source, the TIF surplus, now hitting over $1 billion, been a factor in this cash flow problem?”

“This is what TIF is designed to do— spur development. This project cannot happen without the infrastructure investments that Alderman Dowell is seeking to do at the site.”

“This TIF has been collecting increment consistently in this time, but we hit the ceiling over a year ago, and so nothing has been able to be spent because we have to give ourselves the authority to do that.”

“As noted, this TIF is going to be beneficial to the surrounding area, which most people don’t realize is primarily CHA public housing or public land.”

“This is the type of project that is exactly designed to maximize the benefit of spending TIF dollars on something like this, and it will spark further development as the Reimagine LaSalle Street project moves forward.”

“It’s about knowing what the threshold should be, because if everyone does have any share of a TIF, I think it makes sense for all of those parties to then be consulted independent of what percentage.”

“I just want to— my numbers, from what I understand, prior to the Johnson administration were that TIF funding was right around like 90, 95.”

“One is if we can make a $200 million anticipation of a TIF when the reason that there was so— that there was such a large TIF surplus last year is because the aldermen did not want to pay the NEABF, so they gave up their TIF surplus.”

“Will the administration in this next budget seek an additional or larger TIF surplus than we saw last year?”

“I was a victim of furloughs. I don’t want any of our lowest-paid workers, whether they be custodians, lunchroom staff, etc., to have to suffer from the uncertainty I want that less than anybody else wants it. But how did we then suddenly come up with another $85 million, which just happened to be the amount involved in the TIF?”

“Hey, thank you so much, Chair. I, I will say I love the project. I love the continuing evolution of the Kinzie Industrial Corridor, the kinds of businesses that continue to open, expand, create jobs there. My, my only question was, why fund this work through a Class 6B rather than the Kinzie Industrial Corridor TIF?”

“This is not a solution for CPS. It just sounds like another soundbite. Um, Chicago Public Schools is facing real fiscal challenges, but this resolution sends us down the wrong road. Um, to Board Member Smith’s point, raiding TIF funds is bad policy, even when it’s dressed up as collaboration.”

“I see as an opportunity of maybe doing a different resolution for the city and another one maybe for the county, because then we can address specifically each level of government, particular areas, and in particular with the city, the TIF, right?”

“It’s not just regular order of business for us. It opens up, as Alderwoman Lee said, TIF funds that have been long awaited specifically to fix the Western Bridge in the 12th Ward.”

“3 quick questions. One, and this was sort of answered, but I just want to get a really fine point on it. So why exactly is it that you think we can rely on future TIF money and revenue, and we cannot rely on future revenue from the state?”