Thu, 05 Jun 2025 19:12:22 -0700 zerosugar from private IP, post #14178287 /all What do you all think of TIF? I think Tif dollars are being misused. I will not give out too much info, but 1.2 million in Tif were given for a new restaurant in an area here where average household income is like $120,000. This area was not even blighted. It had a restaurant before that was fine. A new guy bought it who is wealthy himself as has the means to do remodeling out of his own pocket. He had the old restaurant demolished, not because it was blighted, but because it had a more retro look. He wanted a more modern industrial feel. Pretty crazy. Now, Tif is being used towards all these shopping malls that are cases of self imposed blight. People like to blame Amazon for the fall of malls and online shopping, but there is online shopping in other countries yet their malls are thriving. Likewise, there are many indoor malls here in Illinois that never went completely empty even if they had some down time. There is one case near my home that is crazy. Sears stores closed nationwide and they never bothered getting a tenant for the old Sears. I heard a few stories from some smaller business owner tenants that they had to leave the mall because they kept raising their rent. These management companies wanted the malls empty and to fail so they could say the area was blighted and get the Tif dollars and not have to use their own money to fix the properties. So shameful. Tif was originally intended to go to underserved areas. As somebody who also loves indoor shopping malls, I hate these outdoor lifestyle centers they are building. Live, work, play is the cheesiest corporate creation. These are not even full outdoor malls like Old Orchard or Oakbrook. Lifestyle centers are sterile spaces that resemble corporate parks. Then, these awful condo developers making cheaply made overpriced condos everywhere. They are destroying cities and their buildings resemble commie row housing. Some of these malls even have architectural value as some were designed by prominent architects at the time. Also so sad many kids will not get the magic of indoor mall shopping during the holidays. Gen Z and Gen Alpha seem like they are trying to revive shopping malls, but they just are not strong enough for the developers. Even some non retail historic buildings are becoming vulnerable to demolition because of Tif. Sad! I am especially concerned for many midcentury modern buildings. They are old and a part of history, but not as old as say a Victorian building, so they do not qualify for protections or get as much attention by many preservation groups who are already swamped with buildings they are trying to save. Soon everywhere in America will look like an exurb. Everything has to get torn down because they need cheap condos and the Karens and Kens need a Cheesecake factory or Uncle Julio's to sit at. Thu, 05 Jun 2025 20:06:01 -0700 marlon from private IP Reply #13949901 https://en.wikipedia.org/wiki/Tax_increment_financing Thu, 05 Jun 2025 20:09:03 -0700 marlon from private IP Reply #13802070 http://www.cookcountyassessor.com/forms/creationvscapture.pdf Thu, 05 Jun 2025 20:23:15 -0700 2tierreality from private IP Reply #19841465 TIF was originally intended to help urban areas and alleviate blight. Instead it's turned into what you say, a boondoggle that benefits wealthy developers of exurbs.Replies require login.
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