Giant Pools of TIF Money | Bleader

Thursday, May 20, 2010

Giant Pools of TIF Money

Posted By on 05.20.10 at 10:47 AM

Sign up for our newsletters Subscribe

Do read the cover story this week: my colleagues Mick Dumke and Ben Joravsky did a remarkable job breaking down how TIF money is spent, ward by ward, for the first time. Or, if it makes more sense in pictures, Sam Adams did a photographic tour of where not much of your TIF money goes.

Or, to immodestly quote myself summarizing why the widespread use of TIF districts drives economic inequality:

If TIFs work as intended, the "extra" tax revenue is driven back into that specific neighborhood. Therefore neighborhoods that will "naturally" generate more tax revenue (and the natural increase can be related to TIF-funded development, but also Alan Greenspan, AIG, and the price of tea in China) will siphon off more money from the city tax base than the more blighted neighborhoods that the program is theoretically intended for. Thus, in some ways, the system works in reverse - the money pools in districts with more and/or more valuable properties.

Tags: , ,


Subscribe to this thread:

Add a comment

More by Whet Moser

  • —30—

    A farewell, and some favorite pieces from the Reader.
    • Jan 14, 2011
  • The Very Political Life of Bill Daley

    Bill Daley: lifetime centrist
    • Jan 14, 2011
  • The Hidden Hands

    The Hidden Hands

    In every successful campaign—and every dud—pros are masterminding and organizing from offstage. Meet the people behind six mayoral candidates.
    • Jan 13, 2011
  • More »

Agenda Teaser

Performing Arts
The Suffrage Plays Den Theatre
November 01
November 17

The Bleader Archive

Popular Stories