This presentation was given at Way of Truth M.B. Church on February 11, 2015. The presenter was Tom Tresser of the TIF Illumination Project. If you want the FULL presentation containing the details of the TIFs of the 17th ward please visit our TIF Data Store at http://www.tifreports.com/store. More more information on the TIF Illumination Project contact info@civiclab.us.

1. February 11, 2015
Tom Tresser
312-804-3230 – tom@civiclab.us

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What are TIFs?

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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

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What are TIFs?
• FUELED BY OUR PROPERTY TAXES
• ONLY FOR BUILDING THINGS (SMALL
EXCEPTION = TIF Works job training)
• TIF $ HANDCUFFED TO WHERE
COLLECTED (Except where they are moved or ported)

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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).

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Money From TIFs Taken From?

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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

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TIFs Used to support commercial projects in
these “Blighted” Areas
40 S. Halsted
Apple Store

10. 10Better Government Association

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Mr. TIF

18. To sum up:
 TIFs = property taxes
 Increment $ collected by TIF
 Run by city
 Lasts 23 years
 Blight & “But for” conditions
 Hard to track
 BIG deal in Chicago & Illinois

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What are TIFs doing to us?

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That’s all we’re going to show you for free. Sorry, but we’ve
got some serious monthly expenses to meet at the
CivicLab – so if you’d like to get the full presentation,
please visit our TIF Data Store at
http://www.tifreports.com/store.

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www.civiclab.us
www.tifreports.com