PI Original Angela Caputo Monday April 20th, 2009, 11:27am

TIF Transparency Back On The Table

For months, Alds. Manny Flores (1st Ward) and Scott Wageuspack (32nd Ward) have been pushing their TIF Sunshine Ordinance,
which would finally subject Chicago's shadowy tax increment financing
(TIF) system to some serious transparency. But Mayor Daley isn't going
to gladly ...

For months, Alds. Manny Flores (1st Ward) and Scott Wageuspack (32nd Ward) have been pushing their TIF Sunshine Ordinance, which would finally subject Chicago's shadowy tax increment financing (TIF) system to some serious transparency. But Mayor Daley isn't going to gladly open up the books, as was made clear when Ald. Marge Laurino (39th Ward) inexplicably shelved the proposals during a committee hearing last month. After all, this is his $555 million piggy bank we're talking about here.

Today, the pair of North Side aldermen announced that the ordinance is not down for the count.  In fact, it will receive a second hearing before Laurino's Economic, Capital, and Technology Development Committee at 10 a.m. tomorrow.  Flores is hoping to see it pass out of the committee and head to the council floor on Wednesday. From his remarks at a City Hall press conference this morning demanding greater accountability and transparency around the city's finances (more on that a bit later): 

To their credit, Flores and Waguespack have been relentless in pushing their TIF transparency ordinance. Flores recently told us he has even been toying with issuing a council "order" that would force the Community Development Department to stop dragging their feet and start getting the public records on-line. 

We'll have more on the hearing tomorrow.

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