ben j. says.....
"Every now and then, a TIF funds a worthwhile endeavor- saving a landmark, building a school. But they're so poorly regulated that far more often they do more harm than good. Given the way TIF's have been abused, it would make more sense for Colon to ask voters to support abolishing the 35th ward TIF altogether.
Fat chance of that. TIFs are the only planning subsidy in town, so Alderman either go along with them or watch development dollars go to other wards.
An Opaque Kind of Transparency
Alderman Ray Colon wants to know if voters in the 35th Ward
approve of their TIF, but what does he plan to do if they don't?
"Every now and then, a TIF funds a worthwhile endeavor- saving a landmark, building a school. But they're so poorly regulated that far more often they do more harm than good. Given the way TIF's have been abused, it would make more sense for Colon to ask voters to support abolishing the 35th ward TIF altogether.
Fat chance of that. TIFs are the only planning subsidy in town, so Alderman either go along with them or watch development dollars go to other wards.
An Opaque Kind of Transparency
Alderman Ray Colon wants to know if voters in the 35th Ward
approve of their TIF, but what does he plan to do if they don't?
gf
1 Comments:
> if we derail the TIF, we will get NOTHING AT ALL
Half of every property tax dollar goes to our public schools. Every TIF diverts funding from schools to private developers. Every TIF we derail helps school funding.
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