Demolishing the record set in each of the past three years, $1.3 billion poured into the city’s 127 TIF funds in 2022, according to a report from Cook County Clerk Karen Yarbrough.

Those in favor of the expansion believe the TIF district could help fix economic and developmental challenges, while those opposed think it may further gentrify the community and push long-standing residents out of the beloved enclave.

The approval represents a major win for Mayor Brandon Johnson, who has touted the proposal as a way to make Chicago a more equitable place to live by “investing in people” and expanding the city’s economic capacity — without raising taxes on Chicago property owners.

Civic Federation President Joseph Ferguson called the complicated proposal to phase out the city’s decades-long reliance on tax increment financing districts, known as TIFs, “sensible” and “responsible.”

The mayor has touted the proposal as a fulfillment of a promise he made during the 2023 campaign to make Chicago a more equitable place to live by “investing in people” and expanding the city’s economic capacity — without raising taxes on Chicago property owners.

The proposal, now in the hands of the Chicago City Council, would phase out the city’s decades-long reliance on tax-increment financing districts and reshape the way Chicago uses its financial resources to spur redevelopment and eradicate blight.

Demolishing the record set in each of the past three years, $1.3 billion poured into the city’s 127 TIF funds in 2022, according to a report from Cook County Clerk Karen Yarbrough.

It’s been a year since Whole Foods made the surprise announcement it was shutting down its Englewood location. The store has been the site of controversy since it was announced that Save A Lot operator Yellow Banana was taking over the lease.

Activists, community members and local elected officials have for months expressed their concerns to Save A Lot operator Yellow Banana about the poor reputation Save A Lot has among many Chicagoans, particularly Black residents.

Many community leaders and residents who spoke out at public meetings didn’t want to see discount grocer Save A Lot move in, citing its limited options and poor reputation among many Chicagoans. Despite that outcry, Save A Lot operator Yellow Banana has been announced as the new tenant in the grocery store space.

Demolishing the record set in each of the past two years, $1.22 billion poured into the city’s 129 TIF funds in 2021, according to a report from the office of the Cook County Clerk.

The growing share of city property taxes sent to tax increment finance districts has fueled a perennial argument over whether the districts actually spur redevelopment and eradicate blight or serve to exacerbate growing inequality in Chicago.

The growing share of city property taxes sent to tax increment finance districts is sure to fuel the argument over whether the districts actually spur redevelopment and eradicate blight or exacerbate growing inequality in Chicago.

As a candidate, Lori Lightfoot pledged to overhaul the tax increment financing system. On Wednesday, her administration unveiled how it's beginning to make good on that promise. 

The battle over the massive $6 billion Lincoln Yards development is far from over. We discuss the controversial project with Aneel Chablani, chief counsel of the Chicago Lawyers’ Committee for Civil Rights, and 2nd Ward Ald. Brian Hopkins.

The city of Chicago could be in line for a giant windfall of tax revenue, just in time to face down a $700 million budget gap.