Tax Increment Financing or TIF impacts us as individuals and businesses.

It is a tool that the government uses to bring development to parts of our communities where it might not have occurred otherwise. TIF works by redirecting newly generated property tax revenues in designated TIF districts away from general coffers of local taxing bodies and into a TIF fund that is used to subsidize new development. By design it raises property values and changes the makeup of our neighborhood or business district.

A TIF district, once designated, lasts 23 years. The process includes designation of a TIF district, a redevelopment plan for the TIF district, and redevelopment agreements with developers and companies who promise to fulfill some aspect of the plan in exchange for benefits from the TIF fund. Appointed officials who are not directly accountable to the public make too many vital decisions in this process.

To avoid abuses of the powers contained in creating and using TIF districts, we find it necessary to establish that we, the people and businesses living and working in areas targeted for TIF, hold certain rights:

Accountability
The people of Chicago have the right to fully participate in creating and implementing community revitalization plans in which TIF may be a tool.

The people of Chicago have the right to both full and clear information about what is being planned in our communities and how tax dollars are being spent.

The people of Chicago have the right to clear and measurable reporting on public subsidies and resulting benefits on a regular basis.

Affordability
The people of Chicago have the right to create local mechanisms to ensure affordability and accessibility for existing community stakeholders.

Direct Benefits
The people of Chicago have the right to require significant job creation and retention correlated to public subsidies.

The people of Chicago have the right to a variety of local job training options, linked to job placement opportunities.

The people of Chicago have the right to determine the infrastructure and public improvements that public subsidies should enhance.

The people of Chicago have the right to expect the City to be proactive in front funding neighborhood development when the community has a comprehensive plan.