Aldermen Stall TIF Surplus Plan For CPS
At City Hall Tuesday, a young alderman pitched a way to help fund Chicago Public Schools. Everyone agrees that the district is in crisis, but his idea would take away some of the funding that has historically given aldermen power. And that plan is raising some ire among several of City Council’s older, and more powerful, members.
Ald. Carlos Ramirez Rosa’s (35th) resolution relies on special taxing funds that are normally used for neighborhood development: Anything from a park to the DePaul University basketball team’s new facilities at McCormick Place. It’s not a binding ordinance, rather a suggestion to the mayor’s office that these funds could be better used for CPS.
Local political experts say that while everyone agrees, in theory, that diverting Tax Increment Financing funds to CPS is a good idea -- Rosa’s idea struck a nerve with some of his colleagues.
Click play to hear about the drama that unfolded at City Hall:
Lauren Chooljian covers Chicago politics for WBEZ. Follow her @laurenchooljian.