New study finds Chicago TIF investments favor downtown
Summary
The FOX 32 Chicago Good Day Chicago interview featured Great Cities Institute Director Teresa Córdova discussing a new UIC study examining Chicago’s use of Tax Increment Financing (TIF). The conversation explained how TIF districts work and highlighted the study’s finding that TIF investments have disproportionately benefited downtown and nearby areas while many South and West Side neighborhoods continue to experience disinvestment. Córdova discussed how TIF can divert property-tax growth from schools and other taxing bodies, the practice of “porting” funds between districts, and the need for reforms that redirect resources toward neighborhoods, jobs, small businesses, and communities still experiencing the long-term effects of deindustrialization.