May 29, 2014 
Tom Tresser
2 
www.civiclab.us
3
In the evening – open enrollment workshops on all things civic... 
4 
“TIF 101” 
“Vegan Cooking”
Watch the 2 ½ minute promo @ http://tinyurl.com/TIF-101-promo-YT 
5
6 
What are TIFs?
7 
What are TIFs?
8 
What are TIFs? 
• Created by municipality (state 
statute) 
• Boundaries cross political and 
community boundaries 
• D...
9 
What are TIFs? 
Under state law, areas proposed for TIF designation 
must possess numerous blighting factors to be 
eli...
10 
How Do TIFs Work? 
When the TIF is created, 
the city tallies up all the 
property taxes 
generated by district in 
th...
Better Government Association 11
12
13 
Where are TIFs? 
• All over Chicago and Cook 
County = 435 TIFs in 2012 
• 154 in city of Chicago 
{Was 163 - 9 termin...
Where are TIFs? 
TIF 101 14
15 
Where are TIFs?
16 
How Much Revenue Do TIFs Collect?
How Much Revenue Have TIFs Collected? 
17 
Ouch! 
Source: Cook County Clerk
18 
How Much Revenue Do TIFs Collect? 
2012 TOTAL TIF REVENUE FOR COOK COUNTY 
City of Chicago 
TIFs diverted $457 MILLION...
19 
How Much Revenue Have TIFs Collected 
Since TIFs Introduced Here?
20 
How Much Revenue Do TIFs Collect? 
2012 Actual 
TIFs extracted $457million in 2012. 
That # is 51% of the TOTAL amount...
• We are told that TIFs have NO impact on our property taxes. 
• This bill is from a property inside the Englewood TIF. 
•...
22 
The civics books 
say our property 
taxes are distributed 
like this… 
But in 2011 our 
property taxes in 
Chicago wer...
23
24
Click here to open the 
163 2011 PDF Annual 
Reports. One by one. 
25 
Repeated for 154 
2012 Annual Reports.
26
27
28 
THE CITY HAD 
$1.7 BILLION IN 
UNSPENT TIF 
FUNDS AT THE END 
OF 2011 and 2012!
29 
What are TIFs?
You can get this full presentation online at the TIF Data Store at 
http://tinyurl.com/TIF-Data-Store. The full presentati...
31 
www.civiclab.us 
www.tifreports.com
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The TIFs Of The 4th Ward

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This presentation on the 11 TIFs inside the 4th Ward was done on May 29, 2014.

If you would like your own copy of this presentation that shows all the data from this ward as well as examples from the TIF Hall of Shame, please visit The TIF Data Store @ http://tinyurl.com/TIF-Data-Store. The TIF Illumination Project is 100% volunteer driven but we have serious monthly expenses to operate the CivicLab, our home, plus we’d like to build an online platform to make this information easy to access. Thanks!

Contact = info@civiclab.us

www.civiclab.us
www.tifreports.com

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The TIFs Of The 4th Ward

  1. 1. May 29, 2014 Tom Tresser
  2. 2. 2 www.civiclab.us
  3. 3. 3
  4. 4. In the evening – open enrollment workshops on all things civic... 4 “TIF 101” “Vegan Cooking”
  5. 5. Watch the 2 ½ minute promo @ http://tinyurl.com/TIF-101-promo-YT 5
  6. 6. 6 What are TIFs?
  7. 7. 7 What are TIFs?
  8. 8. 8 What are TIFs? • Created by municipality (state statute) • Boundaries cross political and community boundaries • Designed to subsidize some business project in “blighted” or under-served area • Captures “incremental” property taxes ABOVE base when district was created • Lasts 23 years
  9. 9. 9 What are TIFs? Under state law, areas proposed for TIF designation must possess numerous blighting factors to be eligible: • Age • Obsolescence • Code violations • Excessive vacancies • Overcrowding of facilities
  10. 10. 10 How Do TIFs Work? When the TIF is created, the city tallies up all the property taxes generated by district in that year (called the "base" amount). After that, all property tax increases above the base (the "increment") are channeled to the TIF district. The property taxes collected from properties inside the district BEFORE the district was created that go to units of government stays FLAT for the life of the TIF (23 years).
  11. 11. Better Government Association 11
  12. 12. 12
  13. 13. 13 Where are TIFs? • All over Chicago and Cook County = 435 TIFs in 2012 • 154 in city of Chicago {Was 163 - 9 terminated in 2012} • Additional 281 in suburban Cook County
  14. 14. Where are TIFs? TIF 101 14
  15. 15. 15 Where are TIFs?
  16. 16. 16 How Much Revenue Do TIFs Collect?
  17. 17. How Much Revenue Have TIFs Collected? 17 Ouch! Source: Cook County Clerk
  18. 18. 18 How Much Revenue Do TIFs Collect? 2012 TOTAL TIF REVENUE FOR COOK COUNTY City of Chicago TIFs diverted $457 MILLION Suburban Cook County where 83 municipalities have TIFs TIFs diverted $266 MILLION TOTAL FOR 2012 = $723 MILLION
  19. 19. 19 How Much Revenue Have TIFs Collected Since TIFs Introduced Here?
  20. 20. 20 How Much Revenue Do TIFs Collect? 2012 Actual TIFs extracted $457million in 2012. That # is 51% of the TOTAL amount of property taxes that went to the city for its operations! TIF = “Off the books” “On the books”
  21. 21. • We are told that TIFs have NO impact on our property taxes. • This bill is from a property inside the Englewood TIF. • It shows “0.00” impact on this person’s bill. Nothing.
  22. 22. 22 The civics books say our property taxes are distributed like this… But in 2011 our property taxes in Chicago were REALLY distributed like this…
  23. 23. 23
  24. 24. 24
  25. 25. Click here to open the 163 2011 PDF Annual Reports. One by one. 25 Repeated for 154 2012 Annual Reports.
  26. 26. 26
  27. 27. 27
  28. 28. 28 THE CITY HAD $1.7 BILLION IN UNSPENT TIF FUNDS AT THE END OF 2011 and 2012!
  29. 29. 29 What are TIFs?
  30. 30. You can get this full presentation online at the TIF Data Store at http://tinyurl.com/TIF-Data-Store. The full presentation contains this data: 30 - how many TIFs in the ward - estimation of TIF property tax extraction from TIFs in the ward for latest year - if a TIF is 100% or close to 100% in ward, lifetime property tax extraction - how much money left in those TIF accounts FROM the ward - what projects funded by TIFs in the ward - examples from the TIF Hall of Shame If this information is valuable to you, please sign up for our mailing list at http://tinyurl.com/SignUp-CivicLab. If you are in Chicago and need a place to work - consider co-working at the Lab! Please support the work of the CivicLab by making a deductible contribution via our fiscal agent, the Investigative News Network, at http://tinyurl.com/SupportTheLab-INN. Find out more - info@civiclab.us.
  31. 31. 31 www.civiclab.us www.tifreports.com

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