Call for hearing(s) on city process and procedures for reviewing and approving applications for tax increment finance (TIF) funding

• Record number: R2026-0024841
• Type: Resolution; category: Committee/Public Hearings
• Status: In Committee
• Sponsor: Gilbert Villegas (36th Ward)
• Committee: Committee on Finance
• Submitted Date: Apr 13, 2026
• Introduction Date: Apr 15, 2026
• Official record: Office of the City Clerk

Impact report

Written by AI from the official document. AI can make mistakes; the official document always wins.

This resolution asks the City Council's Committee on Finance to hold a hearing on how the City reviews and approves applications for tax increment finance (TIF) funding.

Who it affects

• Businesses and developers applying for TIF funding: The hearing would look at how their applications are reviewed and list applications received but not sent for approval since May 1, 2023.
• Residents of communities inside TIF districts: The hearing aims to check whether TIF funds are used fairly based on the needs of communities within each TIF district.
• City department leaders: The Commissioners of Planning and Development and Housing, Corporation Counsel, Budget Director, Chief Financial Officer, Comptroller, and Chief Equity Officer would be asked to testify and answer questions.
• Chicago property taxpayers: The hearing would review how property tax increases captured in TIF districts are spent.

What changes

• The Committee on Finance would hold a public hearing on the TIF application review process.
• City officials would explain who makes TIF funding decisions and what criteria they use.
• A list of TIF applications received but not submitted for approval since May 1, 2023 would be requested.

Money

• TIF funds come from increases in property taxes captured by the City and are loaned or granted to projects within TIF districts; the resolution says these can reach up to hundreds of millions of dollars.

Where: 36th Ward