Emanuel Will Tackle TIFs With New Aldermen

Chicago Sun-Times:

Mayor-elect Rahm Emanuel and some newly-elected aldermen say they are prepared to overhaul and rein in the city's Tax Increment Financing system, which they say has grown into a tax-gobbling menace over the last 25 years.

"Over the years, it's kind of morphed from a tool for blighted economic communities into an all-purpose vehicle," Emanuel told the Sun-Times. "We need to return it to its original purpose -- it should not be used for high-rent areas."

Read the whole story: Chicago Sun-Times

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