"The change in CTU leadership -- Lewis takes the reins July 1 -- could put Mayor Daley in a political pinch through demands for the city to return tax-increment financing (TIF) funds to each school taxing district."
It seems that the Chicago Teachers Union is joining the affordable housing advocates in seeking the TIF pot of gold. The Affordable Housing lobby succeeded in demanding ordinances that require that 20% of all TIF money spent on housing go for affordable housing. That wasn't too hard to get passed because the feds, through HUD, recently cracked down on Chicago, demanding that the City improve the quality and maintenance of it's affordable housing stock. The housing advocates demands fell in line with the City's need to fund that area.
Now the affordable housing lobby, including Uptown's ONE, want more. They demand 20% of all TIF dollars from every TIF, every year. The Teachers Union see that one activist group won TIF money and now they want their's too.
Of course, no spending on government and tax exempt causes raises any taxes. And that is the problem with funding government and non-profit ventures from TIF funds; development with tax dollars today to generate even more tax dollars tomorrow is the purpose of the TIF program.
Truthbearer, The article states that the new CTU leadership could ask that Tif funds be “returned to each school taxing district”. They are not asking to create new TIFs and demanding a piece of the pie. They are attempting to regain what was taken away in over 170 TIF districts throughout the city.
Schools, the Park District and other taxing bodies have been LOSING money because of TIFs.
TIF’s funnel the money that was supposed to go to the schools and other taxing bodies into other projects. Some good ( those that will actually spur economic development and thus add to the tax revenue base) and some bad (Wilson Yard comes to mind).
Remember using Wilson Yard as an example. TIF money - meant for the schools - instead went into the developer’s and other well connected pockets.
While the author does not attribute the TIF reference to Lewis, you can be pretty sure the topic was discussed and included in the article without a specific quote.
TB:
If I were the head of the CTU, I'd be pretty pissed that a half billion dollars a year are siphoned from property taxes, a significant chunk of which should have gone to schools in the first place, and is/was redirected toward projects like Wilson Yard and Lakeview Station.
It's not so much that CTU is seeking the pot of gold, but reclaiming it, or at least their share of it.
I particularly like the piece of the article that says the CTU has been using FOIA requests to find out where all the money goes.
Where and when did Lewis discuss TIF $$? No where in the article is this discussed. Wishful tkinking on someone's part?
ReplyDeleteIt seems that the Chicago Teachers Union is joining the affordable housing advocates in seeking the TIF pot of gold. The Affordable Housing lobby succeeded in demanding ordinances that require that 20% of all TIF money spent on housing go for affordable housing. That wasn't too hard to get passed because the feds, through HUD, recently cracked down on Chicago, demanding that the City improve the quality and maintenance of it's affordable housing stock. The housing advocates demands fell in line with the City's need to fund that area.
ReplyDeleteNow the affordable housing lobby, including Uptown's ONE, want more. They demand 20% of all TIF dollars from every TIF, every year. The Teachers Union see that one activist group won TIF money and now they want their's too.
Of course, no spending on government and tax exempt causes raises any taxes. And that is the problem with funding government and non-profit ventures from TIF funds; development with tax dollars today to generate even more tax dollars tomorrow is the purpose of the TIF program.
Better education to create more tax dollars tomorrow seems like a logical stance.
ReplyDeleteTruthbearer,
ReplyDeleteThe article states that the new CTU leadership could ask that Tif funds be “returned to each school taxing district”. They are not asking to create new TIFs and demanding a piece of the pie. They are attempting to regain what was taken away in over 170 TIF districts throughout the city.
Schools, the Park District and other taxing bodies have been LOSING money because of TIFs.
TIF’s funnel the money that was supposed to go to the schools and other taxing bodies into other projects. Some good ( those that will actually spur economic development and thus add to the tax revenue base) and some bad (Wilson Yard comes to mind).
Remember using Wilson Yard as an example. TIF money - meant for the schools - instead went into the developer’s and other well connected pockets.
buenapk:
ReplyDeleteOpen thine eyes, and thou shalt see.
Re-read paragraph #3 of the article.
While the author does not attribute the TIF reference to Lewis, you can be pretty sure the topic was discussed and included in the article without a specific quote.
TB:
If I were the head of the CTU, I'd be pretty pissed that a half billion dollars a year are siphoned from property taxes, a significant chunk of which should have gone to schools in the first place, and is/was redirected toward projects like Wilson Yard and Lakeview Station.
It's not so much that CTU is seeking the pot of gold, but reclaiming it, or at least their share of it.
I particularly like the piece of the article that says the CTU has been using FOIA requests to find out where all the money goes.
Amazing.