WBEZ 91.5 Chicago

Chicago Mayor Rahm Emanuel’s administration has decided to channel more than $7.3 million in tax increment financing toward a “bus rapid transit” line downtown, according to transportation and economic-development officials.The money will combine with an announced $24.6 m

Devon Avenue regulars may feel like they’ve fallen for a sort of tease this summer. Residents and business owners have long awaited the completion of a seemingly endless construction at the corner of Devon and Rockwell St.

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.

Each week on Venture, we trek out into the local business scene to see how wider economic trends are playing out on the micro-level. This week, we'll get unemployment rates for cities across Illinois.The state's been slowly adding jobs again, but the gains aren't spread evenly.