Proposed North Branch Industrial Corridor TIF: If permitted - will affect entire city & without community voices may fill wealthy developer pockets

“Mayor Emanuel and Alderman Hopkins are pushing to create a North Branch Industrial Corridor TIF (Tax Increment Financing) to payoff large developers," cautions Tom Tresser, lead organizer for the TIF Illumination Project.

Tom Tresser

"Residents from both sides of the River should use this Nov. 14 public meeting to demand, the entire project plan in writing as well as the TIF plan, before the TIF is approved." Tresser has presented on TIFs at 73 public meetings across the city, "TIFs equals 'Taking it from schools,'" comments Tresser. "And, giving $500 to $800 million in public funds to subsidize the Lincoln Yard Project while so much of our city is under stress and duress is simply unsupportable." 

The 6 p.m. Wednesday TIF meeting at Renew Chicago Church, 1001 N. Crosby St. is a public meeting that is part of the Illinois requirements for establishing a TIF. However, residents are concerned that this meeting will be a repeat of a controlled environment where presiding responders are evasive and anything but transparent. 

The letters from David L. Reifman, Commissioner Department of Planning and Development, and 2nd Ward Alderman Brian Hopkins to residents are fueling the residents' concerns. 

Reifman's letter lays out the meeting. "The format will include a presentation by Chicago Department of Planning and Development (DPD) staff and a comment period for the public to provide input or ask questions about the proposed designation, eligibility criteria and boundaries. The discussion will also include details as to how the TIF district will be used to fund infrastructure improvements, but will not review specific details. In the future, if TIF is used for infrastructure improvements they will be reviewed with the community in subsequent meetings." 

Hopkins confirmed Reifman's message, "As a reminder, this meeting will focus on details of the TIF proposal and community improvements, but WILL NOT include a presentation on the Lincoln Yards Planned Development. 

"However, next week, my office will be sending an announcement about the next scheduled Lincoln Yards Community Meeting, where updated and revised plans will be presented." 

Various public and "private meetings with community groups" have neither garnered final plans nor resulted in meaningful answers to various questions."

Additional TIF information:

• Tresser, Joravsky and Dye headline Tax Increment Financing meeting of 200 plus in Chopin Theatre

• Does Chicago’s Tax Increment Financing (TIF) Programme Pass the ‘But-for’ Test? Job Creation and Economic Development Impacts Using Time-series Data by former Chicago Resident, T. William Lester, Department of City & Regional Planning at the University of North Carolina at Chapel Hill, and urban policy and finance expert.