Juan González on Chicago Funding Real Estate, Not Services
Summary
Democracy Now! featured Juan González discussing a new Great Cities Institute study examining Chicago’s use of Tax Increment Financing (TIF) over the past 40 years. González explained that Chicago collected more than $16 billion through TIF, originally intended to combat urban blight and support development. The study found that TIF diverted substantial property-tax revenue from schools and public services, increased property taxes citywide, and disproportionately directed funding toward downtown neighborhoods. González also highlighted limited public accountability, approximately $3 billion currently held in TIF accounts, and persistent neighborhood inequities. He noted recent reforms under Mayor Brandon Johnson but argued further changes are needed.