Wednesday, May 5, 2010
Chicagoland / Politics / Clout City STAR: TIFs By Another Name
Posted by Whet Moser on 05.05.10 at 12:08 PM
Progress Illinois and Rich Miller are talking STAR bonds, which are essentially the state equivalent of TIFs. Last year Miller called a STAR proposal the Worst. Bill. Ever., and it's back. Worth a read, though I have a minor nit to pick about one of Miller's assertions:
"How long do you think it’ll be before Mayor Daley and others decide to let their TIF districts expire and convert them to STAR bond districts? Half of Chicago, remember, is already in a TIF district."
That seems unlikely, seeing as it'd represent a loss of fiscal autonomy for Mayor Daley.
Speaking of state financing schemes, Josh Kalven has a nice catch on the $1b ComEd rate hike proposal.
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