Wilson Yard TIF
As mentioned in a recent TIF brief, the Wilson Yard TIF located in Uptown provides a good example of why tax increment financing (TIF) needs transparency.
2000 residents have filed a lawsuit against Chicago, citing abuses in the creation, planning, and funding of the Wilson Yard TIF. On December 3, 2008, the Fix Wilson Yard group held a press conference downtown. You can see the video here.
Their situation highlights the serious need for transparency in the TIF process, which currently lacks accountability or general public understanding while tax dollars keep flushing into these districts.
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