Tax Increment Financing, or TIF, has become a popular neighborhood development tool in Chicago over the past few decades. The city identifies areas that need development and freezes the portion of property taxes that go to the various area taxing bodies. Anything above that amount is put where it can be used to help the community. The Chicago Coalition for the Homeless says the so-called affordable housing, created with the help of TIF, doesn't fall within the budget of most needy Chicago families. Julie Dworkin, the director of policy for the Coalition, and the lead author of the new study, describes what's gone wrong with TIF-driven affordable housing.
RELATED LINKS: Sweet Home Chicago Coalition