WBEZ brings you fact-based news and information. Sign up for our newsletters to stay up to date on the stories that matter.The Chicago Teachers Union is determined to retrieve schools money that’s currently siphoned away through special taxing districts.
CTU President Karen Lewis says she and her members are pressing aldermen for an ordinance that would allow tax-increment financing money to go back to Chicago Public Schools.
TIFs are special districts in which property taxes are reserved for economic development. Lewis says budget problems at the city and CPS are making TIFs look like a golden goose.
LEWIS:The idea of TIFs is coming to light. People are starting to understand them, and they’re also wanting to demand an explanation as to why we’re not using this money.
Lewis says TIF money could help prevent teacher layoffs and concessions CPS officials have asked the union to make.
Some aldermen have also been talking about using TIF money to help the city close its $654 million deficit.