Quick Hit Josh Kalven Friday February 5th, 2010, 10:56am

$200 Million? Seriously?

In case you missed it, the Sun-Times' David Roeder reported on Wednesday that the owners of Chicago's Willis Tower have been seeking $200 million in tax increment financing (TIF) funds to renovate the skyscraper and build a hotel next door.  This comes after the city council already approved nearly $40 million in Willis-related TIF subsidies over the past year.  Apparently, Ald. Bob Fioretti told the building owners to "curb" their appetites for public funds and now their request has fallen to a paltry $100 million. But the fact that they initially asked for $200 million -- all with a straight face  -- is the latest evidence of how perverted Mayor Daley's TIF network has become.

Comments

Log in or register to post comments