Grassroots Collaborative TIF Presentation

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This presentation was given my Eric Téllez, an organizer with the Grassroots Collaborative (www.thegrassrootscollaborative.org) at the 7th Ward TIF Town Meeting on March 30, 2013. More information @ http://www.tifreports.com. Email tom@civiclab.us.

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  • If you'd be open to discussion I'd like to talk of ways to increase the number of voters beyond the poverty neighborhoods who have empathy for the problem and would spend time getting others involved. I've always felt that volunteers in organized tutor/mentor programs were an under utilized resource that could be mobilized to support policy issues as a result of a growing understanding and empathy for the challenges facing the youth and families they connect with in mentoring programs.
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Grassroots Collaborative TIF Presentation

  1. 1. Title Layout Subtitle
  2. 2. TIF Equity & Racial Justice▪ Have you seen cutbacks in your community? What was the impact?
  3. 3. Real Impact of TIF 2002-2010▪ Downtown Job Growth = 41,197 ( 7.1% )▪ Englewood Job Loss = 212 ( -29.6% )▪ Brighton Park Job Loss = 202 ( -9.9% )▪ South Shore Job Loss = 1680 ( -28.5% )▪ Oswego, IL Job Gain = 834 ( 123.9% )
  4. 4. TIFs Take in 2011 School Bldg & Improv Fund, $9.9M City of Chicago,Total: $83M$453.7M Library Fund, $9.2M Park District, $28.8M Board of Ed, $239M Water Reclamation, $22.7M City Colleges, $13.7M Forest Preserve, $4.8M County, $38.4M
  5. 5. Rahm’s First Budget Cuts▪ Cut public safety, close 3 police districts - $82 million▪ Cut library hours - $7 million▪ Shut down 6 mental health clinics - $7 million▪ Forced the cut of $87 million in auxiliary/after-school programs
  6. 6. Rahm’s First Budget Taxes/Fees▪ Raised water fees - $147 million, $120/family▪ Raise city sticker cost - $15 million▪ Raised CPS property taxes - $150 million, $84
  7. 7. Rahm’s First Corp Handout▪ Eliminating the Corporate Head Tax▪ Annual revenue = $35 million
  8. 8. TIF Corporate Welfare▪ Ground Breaking at River Point Tower ▪ $29.5 M for Corporate Plaza▪ More office buildings proposed despite a 14.9% vacancy rate at end of 2012▪ In 2011, there were no revenues generated for LaSalle Central TIF
  9. 9. Interest Rate Swaps▪ $73 million from the City▪ $35 million from Chicago Public Schools▪ $4.8 million goes to Bank of America▪ Closing 9 schools in order to pay Tim Maloney
  10. 10. IL Income Tax’s Uneven Burden
  11. 11. Whose side are you on? VS
  12. 12. Shared Prosperity ▪ End TIF Corporate Welfare ▪ Renegotiate Interest Rate Swaps ▪ Change IL Income taxes

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