• facebook
  • twitter
  • sign up today!

Business and Finance

City ordinance promises TIF transparency amid calls for reform

A coalition of aldermen proposed legislation on Wednesday that would require the city to aggregate information and performance metrics regarding Tax Increment Finance projects into a centralized online database.

The “TIF accountability ordinance” builds on the 2009 TIF sunshine ordinance that required the city’s Department of Housing and Economic Development to publish information about spending in each TIF district.

FAA orders inspection of more than 1,000 Boeing jets

Madison Dearborn to buy wealth manager in $1.3 billion deal

Plass Appliance shutting down all stores

Federal Signal taps Westell exec as CFO

Chicagoland Chamber CEO Roper sets retirement date

McDonald's tackles repair of 'broken' service

Sears launches celebrity branding unit with Adam Levine, Nicki Minaj

Park district to test bond market waters this summer

The Chicago Park District set in motion Wednesday plans to issue $35 million in bonds this June, as the agency vies to secure money for their long-term capital plan.

The district’s Board of Commissioners adopted a resolution authorizing the agency to reimburse any bond it issues, a procedural hurdle necessary to enter the bond market.  At an earlier meeting Wednesday of the district’s Committee on Administration, Cynthia Evangelsti, acting treasurer for the park district, acknowledged that the bond market is currently unpredictable.

Boeing to set up research center in Brazil