Anonymous ID: 1c52ff July 29, 2018, 12:07 a.m. No.2335219   🗄️.is 🔗kun

From ZH

https://www.zerohedge.com/news/2018-07-27/chicago-funnels-third-property-taxes-mayor-managed-slush-funds

 

In Chicago, nearly a third of all property tax revenue is diverted into private TIF funds appropriated for the city’s 143 TIF districts. And despite the fact that TIFs are meant to encourage development in blighted neighborhoods, these districts aren’t limited to underserved areas. Nearly half of the $660 million Chicago collected in TIF revenue last year was captured by TIF districts located in affluent neighborhoods, including the Loop. The LaSalle Central TIF district, which is only 12 years old, brought in nearly $57 million in revenue in 2017, the highest among Chicago-area TIF districts.