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Tif Surplus

All articles tagged with #tif surplus

Chicago Budget Battles: Surplus, Tax Disputes, and Leadership Proposals

Originally Published 2 months ago — by Chicago Sun-Times

Chicago Mayor Johnson's proposed 2026 budget includes a record $1 billion TIF surplus aimed at funding a new teachers contract, but faces opposition from City Council members who fear it will divert funds from neighborhood improvement projects and community development, especially in Black and disadvantaged areas, amid concerns over project funding and pension reimbursements.

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Chicago School Board Approves Budget, Rejects High-Cost Loan

Originally Published 4 months ago — by Chicago Tribune

The Chicago Board of Education approved the 2025-26 budget without a controversial $200 million loan, marking a shift in internal dynamics and reflecting ongoing debates over funding strategies, including reliance on TIF surplus and potential borrowing, amidst tensions between mayoral appointees and elected members.

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