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The Latest Breaking News from TIF

Best podcasts of the week: The truth about Oatly’s climate-friendly credentials

In this week’s newsletter: Journalists put the plant-based brand to the test in The Oatly Chronicles. Plus: five of the best Today in Focus episodes

The Guardian - UK

Registrations open for Shaastra 2024 contests for school and college students

Shaastra 2024: IIT-M's annual tech fest to host TIF & JMT. Registration open. TIF: Evaluate ideas, mentorship, tech & financial support. JMT: Tackle real-life challenges, mentored to transform ideas to prototypes. Workshops for fun & education for all.

The Hindu

Johnson’s plan to declare record $434M TIF surplus threatens plans to transform LaSalle Street office buildings into residential use, City Council members say

Alderpersons Bill Conway (34th) and Brendan Reilly (42nd) sounded the alarm about the future of “LaSalle Street Reimagined” during Wednesday’s budget hearing, seeking assurances from city planning officials that developers now fronting huge costs can count on the city to be their partner.

Chicago Sun-Times

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New life for stalled renovation of landmark Congress Theater

A Chicago City Council committee extended the life of the tax increment financing district by three years — until Dec. 31, 2027 — and granted the latest development team tackling the formidable project a $27 million city subsidy.

Chicago Sun-Times

No honeymoon for Brandon Johnson — at least not with Fulton Market Association

Just as Johnson settled into his first full workday at City Hall, Fulton Market restaurant owners and business and community leaders were making demands.

Chicago Sun-Times

Vital Falkirk projects including flood defence scheme hit by soaring construction costs

Grangemouth's flood defence scheme and upgrades to the Avon Gorge are vital but unaffordable

Daily Record

World Thalassemia Day: An invisible disability that is lacking acceptance

An opinion piece on the Thalassemia disorder.

The Hindu

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City blesses plans to add apartments to two Loop office buildings

The proposals to revitalize the LaSalle Street corridor represent investments of $320 million and would add about 600 housing units to the Loop, almost half “affordable” under city rules.

Chicago Sun-Times

Challengers in 8th, 9th Wards look to unseat longtime incumbents

Ald. Michelle Harris (8th) and Ald. Anthony Beale (9th) face challengers who promise revitalization and growth in their South Side wards.

Chicago Sun-Times

Let’s ease property tax burden by fixing tax-increment financing

Ultimately, property taxes are a math problem we must solve if we want the fabric of our neighborhoods to remain intact. TIF reform is a good place to start finding solutions.

Chicago Sun-Times

Funding for Red Line extension approved, straw purchaser of gun used to kill Officer Ella French sentenced and more in your Chicago news roundup

Today’s update is a 5-minute read that will brief you on the day’s biggest stories.

Chicago Sun-Times

Red Line South TIF approved by City Council committee

The primary opposition came from Budget Committee Chair Pat Dowell (3rd) and former longtime Transportation Committee Chairman Anthony Beale (9th), whose Far South Side constituents would benefit the most.

Chicago Sun-Times

Businessmen seek $5 million in TIF funding to install surveillance cameras in Fulton Market, Garfield Park

The ACLU of Illinois has repeatedly raised alarms about such cameras, warning last year that the city’s camera system “continues to operate without any regulation or privacy or regular public reporting.”

Chicago Sun-Times

Black-owned company gets OK for $13.5M city subsidy to buy, revamp 6 South, West side grocery stores

Ald. Jason Ervin (28th), chairman of the City Council’s Black Caucus, said the Save A Lot name that will be revived by stores operated by Yellow Banana has been seriously damaged by store closings.

Chicago Sun-Times

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Chicago Tribune

Arlington Heights OKs agreement to move forward with new Bears stadium

CHICAGO — Arlington Heights trustees Monday kicked off a new phase of negotiations with the Chicago Bears by approving a pre-development agreement with the football club to guide a possible redevelopment of Arlington International Racecourse.

Chicago Sun-Times

CTA chief says Ghost Bus fixes are coming, won’t commit to meeting with City Council

In a talk with the Chicago Sun-Times Editorial Board, CTA President Dorval Carter Jr. acknowledges the transit agency’s shortcomings, defends decisions to address them.

Chicago Sun-Times

Planning commissioner gets an earful about Lightfoot’s plan to create second transit TIF to bankroll Red Line South extension

Mayor Lori Lightfoot is pushing for a final City Council vote on her financing plan before Dec. 31 to meet the requirement for federal matching funds. But it could be a rough ride, judging from the earful Planning and Development Commissioner Maurice Cox got about the project while testifying at…

Chicago Sun-Times

CTA boss blames employee shortage for service troubles

“We’re recruiting. We’re hiring. We’re offering special incentives. We’re doing all of the things that we can,” said CTA President Dorval Carter Jr.

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Chicago Sun-Times

CTA funding plan for $3.6 billon Red Line extension uses almost $1 billion in property taxes

To extend the Red Line to 130th Street, the CTA hopes to land a $2.16 billion federal grant and must come up with $1.44 billion to match it. To do that, it plans to raise $950 million through a special tax district for transit projects.

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