For decades, TIFs have been used in Chicago and across the suburbs to help develop real estate.
Arlington Heights officials say they have beenthey have created. The downtown TIF, which ended in 2009, leveraged about $50 million in tax funds to facilitate $200 million in private investment, officials said, bringing a “windfall” to local taxing bodies when the subsidy ended.
One crucial difference between the Bears’ site and International Plaza is that the Bears are seeking public help, while business and property owners at International Plaza fought their TIF. Large potholes are scattered among boarded up storefronts where Sports Outlet Express is having a closing sale in International Plaza on April 12, 2023, in Arlington Heights.
“They should have done something earlier and talked to the business owners,” said Sports Outlet owner Alex Zajac, who took part in protests against the TIF.
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