An overview of TIF districts
By Leslie Hairston
Women and the Law,
October 2008
The stated purpose of the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1 et seq. (West) hereinafter referred to as the TIF Act, in the State of Illinois is to provide a mechanism for local governmental units in Illinois to spur economic development, in specific geographic areas that are deteriorating and/or declining, by providing gap financing for projects that would not occur without such public assistance.
Tax increment financing in Chicago
By Leslie Hairston
Local Government Law,
July 2008
In the firsthand experiences of the author, there appear to be several ways in which the City of Chicago, in its practical utilization of TIF, is failing to adhere to this fundamental purpose for the program and actually may be undermining potential economic development in Chicago’s poorest neighborhoods.
Spot an error in your article? Contact Celeste Niemann at cniemann@isba.org. For information on obtaining a copy of an article, visit the ISBA Newsletters page.
Select a Different Author