CHICAGO–(ENEWSPF)–April 5, 2016. Area experts will weigh in on the future of tax increment financing (TIF) in Chicago in relation to the city’s growing fiscal crisis at 5 p.m. on April 14 at the Gerald Fogelson Forum on Real Estate at Roosevelt University, 425 S. Wabash Ave., Chicago.
As discussions swirl about the possibility of “capturing” TIF balances to address Chicago’s municipal and school fiscal crises, a panel of experts will provide perspectives on the future of TIF as an economic tool at the forum being hosted by Roosevelt’s Marshall Bennett Institute of Real Estate.
• David L. Reifman (above), commissioner of Chicago’s Department of Planning and Development (DPD), including the TIF Administrative Division. A native Chicagoan, Reifman is responsible for leading the department’s Housing, Economic Development, and Planning & Zoning bureaus while fostering community-improvement projects and initiatives throughout the city. As commissioner of DPD, he serves on the Chicago Plan Commission, Community Development Commission and Commission on Chicago Landmarks, among other public agencies.
• Rachel N. Weber (right), professor of Urban Planning and Policy Program at the University at Illinois at Chicago where she conducts research in economic development, real estate and public finance. She is author of the new book, “Boom to Bubble: How Finance Built the New Chicago” (2015) and co-editor of the Oxford University Press Handbook of Urban Planning. Weber was appointed by Chicago Mayor Rahm Emanuel to the Tax Increment Financing Reform Task Force and was a member of the Urban Policy Advisory Committee for then-presidential candidate Barack Obama.
• Graham C. Grady (below), partner at Taft Stettinius & Hollister LLP and an advisor to municipal governments as well as private developers and investors in Chicago development. With a focus on the City of Chicago and Cook County, he helps secure necessary approvals for land developments in the Chicago metropolitan area. A consensus builder and negotiator, Grady maintains relations with community organizations, local elected officials and other stakeholders. He also provides legal counsel on compliance, regulatory and public policy matters involving zoning, land use, licensing, government contracts, procurement and legislative approvals.
“Perhaps more than any other American city, Chicago has utilized TIF districts as its major funding source for neighborhood and economic development,” said Jon B. DeVries, director of Roosevelt’s Marshall Bennett Institute of Real Estate.
“Now with both the city and Illinois experiencing financial crises, there are increasing cries to utilize TIF revenues to rescue the Chicago Public School (CPS) system and address budget deficits,” said DeVries. “The decisions resulting from this discussion could impact municipal financing and city economic development for decades to come.”
The Gerald Fogelson Forum on Real Estate was founded in 1999 to provide industry professionals and students an opportunity to participate in discussions and presentations by leaders in all areas of commercial real estate development.
The forum begins with a 5 p.m. reception with refreshments and hors d’oeuvres. The panel discussion will follow from 5:30 p.m. to 6:45 p.m. in the Wabash Building, Room 418. Cost is $25 per person. To register, visit here.
Since its founding in 2002, the Marshall Bennett Institute of Real Estate has grown to become one of the largest graduate real estate programs in the country with more than 50 current students and over 600 graduates. Degrees that are offered include the Master of Business Administration with a concentration in Real Estate and the Master of Science in Real Estate.