TIF Money
Now this crap comes up in a main stream publication? After Shortshanks is all set to leave office?
Mayor-elect Rahm Emanuel and some newly-elected aldermen say they are prepared to overhaul and rein in the city’s Tax Increment Financing system, which they say has grown into a tax-gobbling menace over the last 25 years.
“Over the years, it’s kind of morphed from a tool for blighted economic communities into an all-purpose vehicle,” Emanuel told the Sun-Times. “We need to return it to its original purpose — it should not be used for high-rent areas.”
Emanuel is not prepared to abolish the program, as some of the aldermanic candidates who ran anti-TIF campaigns would like, but he pledged to appoint a commission to recommend reforms and say which TIFs should end.
- The 160 districts that now cover nearly a third of the city collect $500 million a year in property taxes that go into a quietly administered program run by Daley’s Planning Dept.
$500 million? That's enough to cover the budget shortfalls, isn't it? Amazing how that works out. It would appear that city government has plenty of money - they just don't know how to spend it.
Ben Joravsky from The Reader has to be shaking his head after covering this for years.
Ben Joravsky from The Reader has to be shaking his head after covering this for years.
Labels: city politics
posted by SCC at 12:33 AM
22 Comments:
I'm no a Rahm fan, but I might end up being one, down the road.
He's made more than a few comments that indicate he doesn't agree with the way Daley's done business in the past. And, yes, he ripped on the TIFs before the election, but nobody seemed to notice.
I'm still inclined to leave the city, but it's interesting to watch this chess game play out.
This story about sums it up regarding how the press in this city turned a blind eye to just about everything that was done in city hall. With the exception of a few reporters the vast majority of the members of the press in this city were afraid of city hall or didn't want to be shut out by the powers that be so they kept their mouths shut. They had easy targets to go after associated with the city, police, streets and san., etc. Anybody but the actual power in the city. No integrity.
Retiring Ald. Helen Shiller in the 46th Ward has been trying to raid her TIF's ever since she decided to retire and her City Council pals aren't doing much to stop her.
Rahm better watch the TIF's over the next couple of months if he hopes to find anything there when he takes office. Daley is probably siphoning them all off for himself and the other members of his Crime Family as we speak!
It's actually only about $160M (only!) for the City itself. The rest of it is coming out of the Board of Eduction and the parks.
The Mayor steals 33% of the property taxes so you pay 33% more than you should.
Hats Off To Ben Joravsky, of "The Chicago Reader" He wrote many articles, about the "TIF" money.
He was not concerned with being in favor with the mayor.
Let's hope, he continues his investigative talents.
Thank you - I read this article in the paper yesterday and was wondering how long it would take to get on the blog.
It stinks to high hell! Bring all the TIF expenditures to the surface and follow the money!
$500 million CITY shortfall. If that money wasn't in TIF, it would be divided among the taxing bodies. The City would only get about 20% of that, or $100 million.
OT: Saw the Daley family at the St. Patty Day Parade. Son Patrick D. really doesn't look like shortshank at all. Patrick is tall with blonde hair. Shortshank is extra short and bald. Did the buzzard drop off the wrong baby to shortshank's nest. It's ok, because dad groomed his little vulture well. The family that preys together steals together.
And Shortshanks rides off into the sunset with most of the media still singing his praises!
TIF...how come all the TIF monies go to the areas that really don't pay any taxes and are on the gov dole???
just axin
Keep your hands out of the Cookie Jar Helen!
Rahm is watching!
Spend the TIF money on the budget right now!! If a law needs to be changed to do it, DO IT.
TIF cash was nothing but a piggy bank for special interest groups.
to 1237am,,,see what Tiny Dancer tries to do with our pensions before you change your opinion......he's a snake, just like Daley and just as bad, if not worse than his old boss,,,President Sotoero.
"quietly administered program" As in, we don't want nobody nobody sent.
OT: Saw the Daley family at the St. Patty Day Parade. Son Patrick D. really doesn't look like shortshank at all. Patrick is tall with blonde hair. Shortshank is extra short and bald. Did the buzzard drop off the wrong baby to shortshank's nest. It's ok, because dad groomed his little vulture well. The family that preys together steals together.
That wasn't Patrick he is still in Russia. That was either a Vanecko or a Thompson, his nephews.
Patrick looks just like Shanks except he is much taller. He gets the height from his mothers side of the family.
It's all crooked, didn't you all know that?
Everything.
Don't believe me, go to the food store, pick up a loaf of Wonder Bread, notice all the space in the plastic bag ahead of the first slice, they take a damn slice out of each loaf and pretty soon they have a whole other loaf to sell! It's all fixed, all of it, all crooked.
Fucking crooked cock suckers! See nothing is legit, damn crooks.
Anonymous said... it's interesting to watch this chess game play out.
3/14/2011 12:37:00 AM
Too bad we are the very expendable pawns in his game
Soooo...
Are enough people starting to see the municipal budget "crisis" for exactly what it is?
An artifice?
A manufactured crisis?
Daley Inc. has been playing "Hide da Money From da Tax Payin' Chumps Like You Guyz" for the last 20 years.
Conservative estimates of the size and scope of the tax payer fleecing known as TIFs range from $12 to $15 Billion USC.
Yet The Police are the enemy huh?
If there were truly justice, all of Illinois north of I-80 would be desert because every mature tree would be cut into timber to build the scaffold for the largest simultaneous group hanging in history.
The problem is that the people don't want justice badly enough because they don't have the jaundiced, discerning eye to "see" what is happening.
The process is corrupted... History is full of examples where the people rightfully took their own justice.
So the city gets $500 million a year, every year? So they spend $500 million a year? What happens to any balances? What the fuck?
Fucking crooked cock suckers! See nothing is legit, damn crooks.
3/14/2011 09:00:00 PM
then bake your own bread.
It is time for a Forensic Audit!
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