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Ben Joravski: City Sitting on Billion $$$ Surplus

{ Submitted by wesler1 on Sun, 2012-08-05 03:00 }

Chicago isn't broke, says Ben Joravsky, simply mismanaged. The City has been cutting back on education, libraries, health services and other essential functions, while refusing to fund retiree pensions. There is no money, according to City Hall. According to Joravsky, this simply isn't true. The City has as much as $1 billion hidden away.

Joravsky laid the blame on a taxation device called Tax Increment Financing(TIF), which diverts needed money from essential programs - and away from taxpayer scrutiny. Joravsky spoke to an enthusiastic audience at the College of Complexes Saturday.

The public has become convinced that TIF's are a form of corruption, according to Joravsky, and Mayor Emmanuel has been reluctant to expand the program further. In an effort to improve public perceptions, the City has created a video about TIF's.