Ordinance O2024-0014247
Stale
Non-Routine
Ward Matters
Economic Development
Tax Increment Financing
Amendment of Municipal Code Section 2-45-155 requiring Department of Planning and Development to publish quarterly report of current balances of tax increment financing (TIF) districts
Auto-generated summary
Alderman Brendan Reilly proposes an ordinance to make TIF documents public, including details on funds allocated, encumbered, awarded, or disbursed, and total incremental ad valorem taxes. The Department of Housing and Economic Development will create a database on the City of Chicago Data Portal, detailing private projects funded by active TIF districts since fiscal year 2009, available by July 1, 2014, within one year of the issuance of a final certificate of completion. The ordinance mandates a quarterly report on TIF district balances, effective upon passage and approval.
