Tax Increment Financing (TIF)

TIF Portal

TIF uses public financing as a method of using future gains in taxes to subsidize current redevelopment, infrastructure, and community development projects. This map shows TIF Districts and projects. Tan areas represent TIF district boundaries, grey areas outline ward boundaries, red circles are redevelopment projects and yellow squares are infrastructure projects.

TIF Interactive Map

Interactive TIF Map

Up until July of this year when the TIF portal was released, information on where TIF funds were being distributed was scarce and not open to the public. With this new resource, the public can now engage with what is going on in a particular TIF district and find out information about the redevelopment projects in their neighborhood.

According to the Chicago Reader, two districts in downtown accounted for about 43% of TIF funds, while neighborhoods in need of community redevelopment like the 15th Ward in Englewood received .002% in funds.

TIF Spending 2004-2008

Chicago Reader Article

Chicago Reader TIF Article

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s