How Rahm Plans To Spend The 1 3 Billion In Tif Tax Dollars He S Giving To Lincoln Yards

There were at least 1.3 billion reasons to oppose the Lincoln Yards TIF deal—until, under intense pressure from local residents, Sterling Bay scrapped plans to build a soccer stadium.

I’ll get to that $1.3 billion, but first, to review . . .

And now, I’ll reveal how much Rahm’s latest TIFs will cost you and how the mayor’s proposing to spend your property tax dollars. Don’t blame me—I’m only the messenger.

So I’m going to concentrate on the Lincoln Yards budget. But don’t worry, I’ll get into the sordid details of the $1.1 billion Rezko Field (or Roosevelt/Clark TIF) another time.

But wait! There’s a footnote that links to some fine print at the bottom of the page that says “in addition to the costs listed in the table above,” the project “shall include an estimated total of $400 million in additional financing costs, including without limitation interest expense, capitalized interest and costs associated with optional redemptions.”

It’s where we learn that Rahm’s proposing to commit $25 million of your hard-earned property tax dollars to pay for Sterling Bay’s lawyers, publicists, architects, and marketers.