T.I.F. "Surplus" Disappearing
A secret piggy bank, it's about to be drained:
The Civic Federation is shining a bright and unflattering light on Mayor Brandon Johnson’s plan to declare a record $1 billion tax increment-financing surplus to rescue the city and Chicago Public Schools, stave off classroom cuts and help bankroll a new teachers contract.
In a report issued Monday, Chicago’s preeminent taxpayer watchdog group said the “complex and highly politicized” surplus process revised by the Johnson administration last year has allowed the creation of TIF districts to “act as a sort of stealth property tax” that bankrolls operating costs at the expense of economically challenged areas TIF districts were created to revitalize.
Although “increasingly large TIF sweeps” have bailed out the city and CPS budgets in recent years, the special taxing districts were “not designed to serve as a source of operating revenue” nor will “surpluses of this size continue” in future years.
In fact, the expiration of many TIF districts beginning in 2030 means those surpluses will “begin to decline,” depriving the city, CPS and other cash-strapped local agencies of a way to generate cash windfalls without risking the political fallout from raising property taxes.
Remember, this looting of the TIF fund is on top of the massive property tax increases we all just got in the mail - increases caused AGAIN by the Chicago Public Schools raising their portion of the property tax the maximum allowable by law, despite:
- declining enrollment
- under-utilized buildings (some at less than 10% of capacity)
- test scores and graduation rates plummeting
If Chicago had real reform....and result based initiatives....taxpayers would be getting massive refunds.
Labels: money questions
posted by SCC at 12:05 AM
29 Comments:
They are going to the mattresses.
Don’t forget the waste too, SCC. The I Pads and other devices that went missing in the audit some of which would up oversees. Then the waste of taxpayer money on these trips all over the country the teacher went on for “teaching seminars”. It’s truly criminal what this administration is doing to taxpayers. The media needs to hammer this home.
but the liberal news will still report that cps has had a record number of graduates again but won't say that they can't read or write
>>>>stave off classroom cuts
Maybe they should call them "mercy cuts"
The College Students Who Can’t Do Elementary Math
A top-rated public university says many of its students can’t round numbers or add fractions.
"Kids in elementary school learn—or are supposed to learn—how to add fractions and round numbers. But many students at the University of California, San Diego—a top public university ranked sixth nationally by U.S. News & World Report—can’t do either, according to a new analysis from the university. Read, and weep for the future of America....
Because so many incoming students were numerically illiterate, the university added a remedial class for middle- and elementary-school math. Remarkably, among students placed into that math course, 94% had completed an advanced math class in high school (e.g., pre-calculus, calculus or statistics) and received an average A- in their math courses...."
https://www.wsj.com/opinion/the-college-students-who-cant-do-elementary-math-2db5e549?gaa_at=eafs&gaa_n=AWEtsqdoGnOcZ3oWr2IJ1tkh2l8guiBEm2PmlQJa0A305IxH3-63A5XzeAaGB7_-HuA%3D&gaa_ts=692eeba6&gaa_sig=MaGzZhsUPDz0WniTnwKscimT1jra0MN_dKxcdlsHLzKUyXuTI1HnZrZuVSJuCaBk5lsQnu40mg1prR3MibXKIQ%3D%3D
The Outfit was never this good at shaking down people. They should have elected a mayor to funnel cash to them in return for nothing of value
That money must have been burning a hole in their pockets.
Federal FORENSIC AUDIT! The amount of money expended on this failure of a school system (which is in fact only a vote-Dem effort of cronyism) is bordering on lunacy! Too few actual students, too many buildings underused, and way too many levels of employees doing nothing to EDUCATE the children.
For the product CPS teachers produce, they should be fired. Disband CPS, go with an online A.I. system.
"If you drive a car, I'll tax the street. If you try to walk, I'll tax your feet. Yeah...I'm the taxman..."
Hmmmm...an unconstitutional overreaching tax used to cover overspending habits of politicians. Who never saw that coming???
Without reading the TIF laws that are specific to Chicago, these expenditures would be illegal in any other community that has TIF districts.
ruh row Shaggy! Gotta extend the TIF districts now! Gotta have tif snacks!
How else are you going to pay for Safari's and Vegas without using your own money.
Defund the fucking communist teachers union, and the CPS ! Education choice, vouchers now !
The rest of the article says for those going on to college over half won’t graduate within 10 years if at all. They slide them thru high school not being able to read or right and then expect them to graduate college. That the CPS and the CTU
Why have democrats let teachers unions ruin this country? Are they going on the premise that the dumber they are the easier it is to have them vote their way?
How many students are enrolled at Manley H.S. now, is it 151? How does CPS justify paying for utilities, let alone staff and maintenance crew to run the building? Shut it down and send them to Marshall or Collins and let the violence interrupters earn their fat checks. The problem will take care of itself eventually via the self cleaning oven that is the ghetto.
How can CPS keep schools open with a full staff when it’s only filled less than 50% capacity
That my friend is costing taxpayers more than $30,000 a student . The last two mayors and city administrators cannot balance a checkbook.they lacked experience as a mayor or leader. Can we say quota ,DEI.
The reality is, that next year taxes are going up again...
Did you say snacks?! I have a friend who makes some great white wine spritzers to wash these so called “tif snacks” down with.
Take from the hard working and give to the lazy do nothing slugs. The American way.
He knows he’s a one term mayor, so he’s going to get all he can for his peeps- CTU.
Does Conehead pay the extra fees for his kid to attend a school not within his district?
Taxations require collectings.
Collectings require collecters.
Collecters require enforcers.
Enforcers eventually use force, as persuasions combined with threat of using force are most convincing.
Is TIF a cue to Governer Prickster?
"Taste It Fatass!"
To let, to allow, to permit etc., is not the same as to direct, to approve, to agree and to enable.
Years ago I worked at Jewel. Back then NCR registers only totaled the proceeds. They were not electronic and didn’t calculate change due. Classes were set up to teach new employees (often high school students) how to make change. Later my younger sister worked at McDonalds. New registers were installed that had numerous keys, each with a diagram of a product so the order taker could hit a button for small fries, or Big Mac which were programmed to tabulate the price. Learning the cost of the items was toooo hard.
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