Chicago’s TIF, or Tax Increment Financing, is a tool meant to encourage development in so-called blighted communities. But TIF is not without its critics. Some argue that money does not go to the areas that need it most. Current Chicago Mayor Rahm Emanuel campaigned to reform the program.
Mayor-elect Emanuel isn’t the only one being sworn in on Monday. May 16 is also Inauguration Day for Chicago's new City Clerk, the City’s Treasurer and members of City Council. Some new aldermen might mean new agendas for some Chicago wards. But sweeping change may not be upon the city just yet.