March 31, 2011
Per Civic Federation recommendations, the City of Chicago approved a tax increment financing transparency ordinance in April 2009. The ordinance, introduced by Aldermen Manny Flores and Scott Waguespack, would require all TIF redevelopment agreements and exhibits to be accessible to the public online by the end of 2009. Additionally, all proposed redevelopment agreements would be made accessible to the public ahead of Chicago City Council consideration. The ordinance requires the City to post online data about geographical boundaries, income, budget, and expenditures for the City’s 100 plus TIF districts annually. These reforms are in keeping with recommendations made in a Civic Federation TIF issue brief released in 2007 that urged the publication of TIF information and projects online.