CI TY O F C HIG AG O
OFFICE OF INSPECTOR GENERAL
JOSEPH M FERGUSON INSPECTOR GENERAL
CI IY OF CHICAGO OFFICE OF INSPECTOR GENET,'AI 740 NORTH SEDGWICK S I REE I , SUITE 200 CHICAGO, ILLINOIS 60654 TELEPHONE (773) 478-7799 FAX (773) 4 78-394 9
JUNE 3, 2019
TO THE MAYOR, CITY COUNCIL, CITY CLERK, CITY TREASURER, AND RESIDENTS OF THE CITY OF CHICAGO:
The City of Chicago Office of- Inspector General (OIG) has completed an inquiry into the City's implementation of the recommendations issued in 2011 by the Tax Increment Financing (TIF) Reform Panel.' Based on the response from Mayor Emanuel's Office, OIG concludes that the City has only partially implemented the Panel's recommendations
Mayor Emanuel appointed the Panel and charged it with improving "transparency, accountability, and efficiency"2 in Chicago's TIF system 3 The Panel produced a report recommending that the City:
create an Economic Development Plan that establishes TIF goals and guides future TIF designations;
create a multi-year Capital Budget detailing the funding for City infrastructure
needs and allocate TIF resources accordingly, .„ ~
o c
establish metrics and monitor TIF program performance; .
increase accountability and monitoring of private projects receiving.TIF ^ funding; ^
develop performance thresholds for TIF districts and projects and conduct ^ strategic reviews, the results of which should inform future strategy arid ^ continuation of the district or project; and °
|109|City of Chicago, Office of the Mayor, "Tax Increment Financing Task Force Final Report," August 2011, accessed April 16, 2019,
https //www Chicago gov/content/dam/aty/depts/mayor/Press%20RoonVPress%20Releases/2011 /August/ 8 2911TIFReport pdf|109|City of Chicago, Office ofthe Mayor, "Mayor Emanuel Announces Formation of Task Force on TIT Reform," May 2011, accessed April 16, 2019,
htlps//wwwchicagogov/city/en/depts/mayor/press room/press releases/2011/may 2011/mayor emanuel announcesformalionoftaskforceontifref...
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