On Exactitude in TIF Science | Bleader

Wednesday, June 16, 2010

On Exactitude in TIF Science

Posted By on 06.16.10 at 04:05 PM

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Thanks in large part to Ben Joravsky's reporting, more and more Chicagoans are learning about tax increment financing. And it logically follows that everyone wants a cut. Now it's CPS parents, to go along with housing advocates, people who want better recycling (if I recall one aldermanic suggestion correctly), and of course big biz.

Now that TIFs account for enormous swaths of the city of Chicago, I envision a day when the whole city is completely covered in TIFs. Money will be ported back and forth from TIF to TIF for all sorts of things desired by interest groups representing all areas of the city and all walks of life. We'll call them "taxes." Forget plugging the hole, we'll just drill through all the way to the other side.

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