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Old Posted May 12, 2006, 5:03 PM
ChicagoBruce ChicagoBruce is offline
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Join Date: May 2006
Posts: 156
Cool CHICAGO | General Developments

Interesting. The whole principal of a TIF is to provide dollars for improvements to spur development that will raise the tax base of an “under-developed” area. The whole idea of raising the tax base is that the services that use the tax money will benefit in the long run (after the TIF bond is repaid) from the increased tax revenue. Its not supposed to be a development piggy bank. If you keep using TIF dollars to spur more development and never put the incremental tax money generated into the general pool, what good is the development?

Sure, you have a bunch of shiny new buildings and stuff, but no one benefits from those extra tax dollars except for the developers and contractors that keep getting the construction jobs to do more of it. That was never the intention of TIF financing.
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