Posted Apr 17, 2019, 7:49 PM
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Registered User
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Join Date: May 2017
Location: Chicago
Posts: 1,273
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I have a very elementary understanding of TIFs, so bear with me.
Do 100% of generated property taxes get diverted? Why couldn’t the city come up with a deal where a percentage of property taxes get sent to the developer to repay for things like infrastructure, while the city still gets some benefit of an increased tax base over that repayment period? It would extend the time it would take for a developer to recoup costs, but it could alleviate some community concerns, at least enough for things to get through without so much controversy.
Or is that already the case?
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