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Millennium City: Richard M. Daley & Global ChicagoMain MenuChicago in 1989Richard M. DaleyA Livable CityDiversity and NeighborhoodsGlobal ChicagoInto the MillenniumAboutComplete Interviews and TranscriptsBiographies of and links to each full-lenth interview and corresponding transcript.Larissa Mukundwa0c6cb03c337751b5774fa39d09352cf04aec006eDan Harpereff3db32ed95b3efe91d381826e2c10c145cd452University of Illinois at Chicago Library
Helen Shiller discusses Mayor Richard M. Daley's use of Tax Increment Financing (TIF's) in Chicago
12020-03-06T18:59:19-06:00Anonymous52Helen Shiller discusses Mayor Richard M. Daley's use of Tax Increment Financing (TIF's) in Chicago. From interview conducted April 24, 2019.plain2021-01-26T14:53:02-06:00Dan Harpereff3db32ed95b3efe91d381826e2c10c145cd452
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1media/EXH_RMD16_03_0311_0008_007i.jpg2020-01-06T19:12:59-06:00FOCUS ON: Tax Increment Financing80A tool for neghborhood development.plain2021-01-26T14:53:46-06:00
To encourage development in some neighborhoods, Mayor Daley used Tax Increment Financing, or "TIFs." A TIF program meant that the city government designated some areas in need of economic support, called “TIF districts.” The city then temporarily set aside incremental increases from property tax revenue in that district and used the resulting funds to encourage development there.
Mayor Daley on TIFs and neighborhoods:
TIF districts work. They allow the city to attract and retain jobs, improve neighborhoods, restore historic buildings, clean up contaminated land and provide job training and affordable housing--all without raising local property taxes.
Tax Increment Financing was controversial. Helen Shiller supported some TIFs and opposed others while she was 46th ward alderman (1987-2011). She explains her views: Mayor Daley opens a new Target store in Uptown:
