“Blighted” Kenilworth considers a TIF to develop Green Bay Road
The Kenilworth Village Board is looking to implement a controversial economic development tool, called a Tax Increment Financing (TIF) district, to help develop the village’s Green Bay Road business district. The business district has failed to attract development for years.
The Board is hoping that taxpayer subsidies and incentives for real estate developers will spur more commercial investment in the 15-acre area, which currently brings in about $1 million in property tax revenue for the village and other local governments. The board’s goal is to grow that amount to 3.5 million by 2042.
But TIFs, originally meant for blighted areas, are deeply controversial and prone to corruption. Many Kenilworth residents are already onto this, and it’s why they recently packed a Village board meeting to express their opposition to the proposed TIF. All Kenilworth residents should be skeptical of any attempt to impose a TIF district in the village. Whatever proponents say, TIFs don’t provide “free money” for development, nor are their benefits guaranteed. OurKenilworth.org has more on the specific issues the proposed Kenilworth TIF presents to the community.
The economic benefits of TIFs are unproven and the tool often ends up being a slush fund for politicians. And TIF property tax dollars are spent with far less transparency compared to regular city spending. The Navy Pier scandal, where Chicago politicians were caught funneling TIF money, is a perfect example.
Read more here and at Wirepoints.
$12,000 Raised to send Project HOOD kids to Summer Camp!
New Trier Neighbors has partnered with Pastor Corey Brooks, of New Beginnings Church and Project Hood in Woodlawn, to send kids from Chicago’s south side community to a transformational week of summer camp in Golden, Missouri, next summer!
With the help of generous New Trier Neighbors, we reached our goal of raising $12,000, which will send up to 20 kids to camp. Many of the young people offered this opportunity will have never before set foot out of Chicago! Thank you!