Wednesday, February 1, 2012

TIF Oversight On The Way?

According to the Tribune:
"The city is creating a website to make public more information on TIF districts where tens of millions of dollars are spent each year, Emanuel said.  Part of the data will reveal whether companies getting TIF funds are meeting their goals, which also will be evaluated by outside auditors, the mayor added.

The website won't go live until later this year, and the auditors won't be hired until summer.  The mayor also is still working on many other TIF reforms.  Key among them are the inclusion of TIF financial data in the city's annual spending plans and creation of an overall economic development plan that will govern the use of the special taxing districts."

Since Uptown is home to six, count 'em, six TIFs, it should be interesting to seeing where the money is going.  Do you think oversight and auditors will make the process run more like, well, right?

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