TIF Projections - 2025-2034

Projections for each Tax Increment Financing (TIF) district over the next 10 years, as published in the <a href="https://www.chicago.gov/content/dam/city/depts/dcd/tif/projections/projection-report-1025.pdf" target="_blank">"10-Year TIF Projections"</a> report on October 15, 2025.
  
Tax Increment Financing is a special funding tool used by the City of Chicago to promote public and private investment across the city. Funds are used to build and repair roads and infrastructure, clean polluted land, and put vacant properties back to productive use, usually in conjunction with private development projects. Funds are generated by growth in the Equalized Assessed Valuation (EAV) of properties within a designated district over a period of 23 years.

For more information on the Tax Increment Financing program, please see http://cityofchicago.org/tif.

<b>How to Read the Data</b>
Fund and Project Balances: Funds carried over from previous years that were allocated to projects but have not been spent.

Timeline: These columns show (from left to right) the projected spending activity within the TIF boundaries over the next 10 years.

Through End Date: Provides cumulative costs projected beyond the next 10 years through the anticipated expiration of the TIF.

Row Totals: Provides the total cumulative projected spending activity through the anticipated expiration of the TIF.

<b>Categories Explained</b>
Fund Balance: Fund Balance typically only contains two rows, one identifying the previous year’s fund balance and one identifying the year’s surplus.

Surplus: TIF surplus is the leftover money in a TIF district after all project costs, obligations, and debts have been paid out. This typically is redistributed back to local taxing bodies such as schools, parks, and municipalities. 

Revenue: Revenue typically contains two rows—property tax revenue and property tax collection variance. The variance is a mechanism that holds back some revenue to account for property tax disputes and non-payments.  

Transfers: When two TIFs are geographically touching each other, they can transfer funds between each other in order to fund infrastructure projects. This section outlines any transfers into or from the TIF to neighboring TIFs.

Current Obligations: These are the individual projects approved by the TIF Investment Committee (TIC). The purpose of the TIC is to review requests for TIF funds to coordinate and align its use with the goals of the administration, alderpersons, and community. TIC review is required for all TIF-funded projects before they advance to legislation or procurement. TIC ensures that projects are legally eligible, financially viable, and warranted. Project costs are often spread across multiple years and forecasted based on when the costs for the project are expected to occur.

Proposed Projects: These are projects that have not yet been approved by the TIC but are projects that internal staff have identified as likely to come before the committee in the near future. Projects in this section are included typically to get a better idea of the financial health of a TIF, should the projects be approved.

Unallocated Funds: This is the amount left over after taking into account the funds carried over from the fund balance, the revenue anticipated to be generated within the TIF District, and the amounts set aside for current obligations and proposed projects.  The Unallocated Fund amount reflects the anticipated funding that will remain in the TIF District on December 31st of the year in question.

TRR: TIF Request Review (TRR) projects are those pending approval.

<b>Positive and Negative Numbers</b>
<u>Negative Numbers</u>
Any negative number is a decrease in funds in that particular TIF district. There are several transactions where a decrease (negative value) can occur.
<ol><li>Obligation: An obligation is an expenditure tied to a specific project. When the project has expenditures, funds leave the TIF District Fund to pay for th

Tags: tif, tif-projections
Organization: City of Chicago