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
Mayor Richard M. Daley discusses tax increment financing
12020-03-25T14:11:46-05:00Dan Harpereff3db32ed95b3efe91d381826e2c10c145cd45252plain2020-03-25T14:12:34-05:00AnonymousMayor Richard M. Daley, “Prepared remarks for news conference on industrial TIF's,” January 22, 1998. Richard M. Daley papers, University of Illinois at Chicago Library, Series 3, box 3-118, folder 21.
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1media/EXH_RMD16_03_0311_0008_007i.jpg2020-01-06T19:12:59-06:00FOCUS ON: Tax Increment Financing62Mayor Daley used tax increment financing to develop neighborhoods.plain2020-07-06T15:27:55-05:00
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: img: [Image of TIF event? Possibly image of Shiller with RMD at Target opening?: from CD-ROM: 7-49-91 or 7-49-92. Reference contact sheet from box 7-549, f. 29: especially following images: 178_target_072010.jpg [RMD, Alderman Helen Shiller, and others prepare to cut ribbon to celebrate the opening of Target in Uptown]; 214_target_072010.jpg [RMD and Alderman Helen Shiller in front of a poster board [probably a board that explains the tif used to create the Target….hopefully the poster's message/text will be clearer]]]
By the late 1980s, many Chicagoans had lost faith in their city government. They doubted its ability to maintain infrastructure, provide essential services, and ensure equitable access to education and housing.
Kelly Welsh, corporation counsel for Chicago (1989-1993), sums up some of the challenges the city faced: The city schools had a poor reputation nationally.
[United States Secretary of Education] William Bennett had called Chicago the worst public school system in the nation. Whether that was accurate or not, I don't know. But it wasn't a system that the city could be proud of.
--Arne Duncan, CEO of Chicago Public Schools (2001-2008).
Tim Samuelson of the Chicago Cultural Center (2002 - present) comments on the city's infrastructure at the time: The city's public housing also faced a number of problems during the 1980s and into the 1990s after Daley took office.
Julia Stasch, housing commissioner under Mayor Daley (1997-1999), explains:
