A few days ago I was having an email conversation with a friend, who asked me what I thought of the school district’s proposed land swap deal that would put developer Shodeen next to Huntley Middle School. Here is how I responded, in part: At this point I am suspicious that a South Fourth TIF…
Tag: TIF
Licensing & Inspection Program Could Help Turn a TIF Blueprint into Reality
The Daily Chronicle lays out today the arguments for and against licensing and inspection of rental properties. There are four proposed laws before the council, but it’s the issue of licensing that has garnered the most attention and debate from aldermen, city officials, and landlords. City Manager Mark Biernacki has previously described it as being…
DeKalb’s TIF District 2
Tax Increment Financing (TIF) District 2 is described in city budget narratives as running south of the downtown but north of Taylor Street. Annual TIF 2 expenditures generally include: $250-300,000 in economic incentives to Target rehab, repairs and/or improvements to Barb City Manor and the Municipal Building about $150,000 in transfers to the General Fund…
A Look at the Central Area TIF Funds
Yesterday there was a lot of news coverage about Chicago’s forecast inability to finish its planned Tax Increment Financing (TIF) projects now that property tax revenues are down. Coincidentally, I’ve been peering at DeKalb TIF funds recently, looking for the same kind of trouble. Fund 63 is the DeKalb TIF fund that pays for development…
The FY2011 Central Area TIF Report
…can be found here (It’s a 64-page PDF so give it a minute to load). As an incorrigible repeat offender I could not stop myself from submitting a Freedom of Information Act (FOIA) request to obtain the following information: 1. The breakdown of the transfers so we can tell how much is going to the…
Village of Alorton, a Federal Investigation…and TIF
Alorton is an Illinois village near East St. Louis of about 3,000 people, a median household income that is roughly the same as DeKalb’s per capita income and a median home value of $47,000. Its government is being investigated by the feds for “systemic corruption.” Some village officials have been indicted. The mayor hasn’t been…
ShoDeen Doing Things in Wrong Order
Before ShoDeen is given a nod for housing and commercial development on DeKalb’s northwest side, the company should tear down the homes it bought downtown and boarded up as (IMO) any local developer would have been made to do long ago. (Or were the comments about using the homes to prove “blight” for the formation…
Find Illinois TIF Annual Reports Online
The State of Illinois Comptroller’s Office has begun posting annual Tax Increment Financing (TIF) reports from FY2010 on. Go here and click on “View Submitted TIF Reports.” You’ll find the City of DeKalb’s FY2010 report there so far. FY2011 should be along soon.
Another Way to Abuse TIF
Greg Hinz of Crains/Chicago Business.com has summarized the Chicago Inspector General’s investigation into a Daley administration practice requiring TIF recipients to donate some of the money to specific not-for-profits, most often one run by Mrs. Daley called After School Matters. Of the 27 grant agreements signed between 1985 and 2009 that directed cash contributions to…
City is Advertising a Lawn Care Company on Public Property
Here is the southwest corner of Route 38 and Seventh Street, a high-traffic area where the city bought up Ralph’s place and demolished it with TIF money in the name of economic development. I’ll bet we’ve spent more than $150,000 on this property and all we’ve got to show for it is an overgrown, overpriced…