Protesters want TIF money used for Chicago schools

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CHICAGO — Parents, teachers and activists are calling on the Chicago City Council to use surplus TIF money to fund schools and avoid a state takeover.

Protesters rallied during at budget committee hearing today.

They say $1.8 billion in TIF funds should be shifted to Chicago Public Schools.

Committee members later voted to push the proposal to the finance committee.

Mayor Emanuel’s budget director recently asked aldermen to shift Tax Increment Financing money away from projects in their wards to CPS.

34 aldermen say they’re in favor of giving up TIF money, but others say they are reluctant to forgo badly needed improvements.

City Hall is trying to put pressure on Governor Rauner to deliver $480 million in pension help already built into the CPS budget.

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