April 11, 2013 
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? 
• Created by municipality (state statute) 
• Designed to subsidize some business project in “blighted” ...
8 
What are TIFs? 
Under state law, areas proposed for TIF 
designation must possess numerous blighting 
factors to be eli...
9 
Better Government Association
10 
How Do TIFs Work? 
When the TIF is created, 
the city tallies up all the 
property taxes 
generated by district in 
th...
11 
Where are TIFs? 
• All over Chicago and Cook 
County = 443 TIFs in 2011 
• 163 in city of Chicago 
• Additional 280 in...
Where are TIFs? 
TIF 101 12
13 
Where are TIFs? 
Source: Cook County Clerk
14 
How Much Revenue Do TIFs Collect? 
Source: Cook County Clerk
15 
How Much Revenue Do TIFs Collect? 
2011 TOTAL TIF REVENUE FOR COOK COUNTY 
City of Chicago 
TIFs diverted $454 MILLION...
How Much Revenue Do TIFs Collect? 
TIFs extracted $454 million in 2011. 
That # is 53% of the TOTAL amount 
of property ta...
17 
How Much Revenue Do TIFs Collect?
How Much Revenue Do TIFs Collect? 
Ouch! 
$4.5 BILLION 
DIVERTED 
SINCE 1986! 
TIF 101 18
19 
Click here to open 
the 163 PDF 
annual reports. 
One by one.
20
21
22 
THE CITY HAD 
$1.7 BILLION IN 
UNSPENT TIF 
FUNDS AT THE END 
OF 2011!
23 
Impact of TIFs?
24 
You can get presentations from ALL our TIF Illuminations online at 
the TIF Data Store at http://tinyurl.com/TIF-Data-...
25 
www.civiclab.us 
www.tifreports.com
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TIFs of the 46th Ward

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This presentation was done at the Peoples Church in Uptown on April 11, 2013.

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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TIFs of the 46th Ward

  1. 1. April 11, 2013 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? • Created by municipality (state statute) • Designed to subsidize some business project in “blighted” or under-served area • “But for” concept – The project WOULD NOT happen except for receiving public subsidy • Boundaries cross political and community boundaries • Captures “incremental” property taxes ABOVE base when district was created • Lasts 23 years
  8. 8. 8 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
  9. 9. 9 Better Government Association
  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. 11 Where are TIFs? • All over Chicago and Cook County = 443 TIFs in 2011 • 163 in city of Chicago • Additional 280 in suburban Cook County
  12. 12. Where are TIFs? TIF 101 12
  13. 13. 13 Where are TIFs? Source: Cook County Clerk
  14. 14. 14 How Much Revenue Do TIFs Collect? Source: Cook County Clerk
  15. 15. 15 How Much Revenue Do TIFs Collect? 2011 TOTAL TIF REVENUE FOR COOK COUNTY City of Chicago TIFs diverted $454 MILLION Suburban Cook County TIFs diverted $275 MILLION TOTAL FOR 2011 = $729 MILLION
  16. 16. How Much Revenue Do TIFs Collect? TIFs extracted $454 million in 2011. That # is 53% of the TOTAL amount of property taxes that went to the city for its operations! TIF 101 16
  17. 17. 17 How Much Revenue Do TIFs Collect?
  18. 18. How Much Revenue Do TIFs Collect? Ouch! $4.5 BILLION DIVERTED SINCE 1986! TIF 101 18
  19. 19. 19 Click here to open the 163 PDF annual reports. One by one.
  20. 20. 20
  21. 21. 21
  22. 22. 22 THE CITY HAD $1.7 BILLION IN UNSPENT TIF FUNDS AT THE END OF 2011!
  23. 23. 23 Impact of TIFs?
  24. 24. 24 You can get presentations from ALL our TIF Illuminations online at the TIF Data Store at http://tinyurl.com/TIF-Data-Store. These presentations will tell you: - 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.
  25. 25. 25 www.civiclab.us www.tifreports.com

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