September 25, 2007

What Is Tax Increment Financing (TIF)?

CHICAGO — Tax Increment Financing (TIF) is one of the most popular economic development tools for cash-strapped municipalities. Widely used within the city and in the surrounding region, what are the pros and cons of such a tool? Do TIF districts create more risk than reward?

Learn about TIF districts at the next American Planning Association's Tuesdays at APA forum on October 9, 2007. The discussion begins at 5 p.m. at APA's 122 S. Michigan Ave. conference center. The event is free and open to the public.

Rachel Weber, associate professor in the Urban Planning and Policy Program at the University of Illinois at Chicago, will discuss the controversies surrounding TIF districts and the effects of TIF on overlapping taxing jurisdictions, such as school districts.

TIF districts harness future property tax revenues to pay for current expenditures, enabling the municipal planning function at a time when other resources have dried up.

Weber has written extensively on public finance, real estate, and economic development with a focus on the design and effectiveness of financial incentives for urban redevelopment. She received her master's degree and doctorate in City and Regional Planning from Cornell University and her bachelor's degree from Brown University.

Tuesdays at APA

Tuesdays at APA is a monthly after-work lecture and discussion series. Each month, practicing planners and researchers discuss the latest ideas, concepts and research in the planning field. For more information and upcoming events, visit www.planning.org/tuesdaysatapa or call 312-431-9100. The next Tuesdays at APA event will be November 13, 2007, focusing on regional water supply planning in northeastern Illinois.

Contact

Roberta Rewers, APA, 312-786-6395; rrewers@planning.org