Critics: City TIFs create slush funds for mayor

Tax increment financing has become a hot issue in Chicago, drawing many high-profile critics in both the media and government. Its detractors say the system lacks transparency and that the money ends up in a huge slush fund for the mayor to play with.

TIFs work by freezing the amount of money a district pays into city services for 23 years. As property values go up, the extra property tax money is used to pay for projects in the community.

For a map of Chicago TIFs, click here.

In theory, this system is supposed to be used in blighted areas to spur development. The reality is a little different.

TIFs now cover 30 percent of the land area in Chicago, and the city council continues to add new ones every year, making it difficult to keep track of all of them.

The city provides some TIF resources, but their maps are often featureless and the information vague, creating more confusion than clarity.

Critics also point out that the tax increment financing system lacks transparency, since there are few details provided about what happens to the money in each TIF district.

One member of the Cook County Board became frustrated with the way government administers TIFs.

Commissioner Mike Quigley’s staff has been working on a list of all TIF expenditures greater than $5,000, but even these figures lack specifics, since the city doesn’t have to give detailed information about what TIF money is being spent on.

Though there isn’t a lot of detailed information about TIFs, Medill Reports has collected what little there is to help you understand this complex subject better.

Click on the map above to find out information about any of the TIF districts in the city. Or click on "View Larger Map," where you can plug in your address to find out what TIF district you live in.