California retrieves TIF funds for “education”

Faced with fiscal strains similar to ours, California legislators observed that TIF funds weren’t particularly well-used, and are taking them to fund government schools.  Since Illinois TIFs are authorized by the State it seems that the State could control or limit them, and divert the funds to some more effective use (not necessarily the schools).

Of course, if this reform got serious support, I suppose the TIF authorities would promptly find it necessary to sign long-term contracts with connected developers or consultants, to be paid out of anticipated cash flows, so it might take quite a while to have any effect.  And anything beyond the next election is too far away to see.

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