This comes from a paper titled Why Tax Increment Financing Often Fails and How Communities Can Do Better published by the Lincoln Institute of Land Policy:
In addition, TIF can make cities’ financial decisions less transparent by separating them from the normal budget process. In Chicago, for example, $660 million — nearly a third of the city’s property taxes — go to TIF districts, making public scrutiny of these funds more difficult and preventing elected officials from re-prioritizing the spending. Finally, TIF carries the same risks as other types of business tax incentives, which can lead to inter-city competition and short-term decision-making.
Could it be that the real purpose of the TIF push here in El Paso is to take tax money out of the hands of city council and give it to others?
You can read the entire report here: https://www.lincolninst.edu/publications/articles/new-report.
We deserve better