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Tidying up TIFs

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Another round of changes are coming to TIF funds near you. Crain's Greg Hinz listened in on a mayoral announcement that new reforms focused on accountability and transparency of TIF financing are underway. Portraying the program as critical but beleaguered, Hinz reports that a new TIF database will be created to centralize all projects and provide convenient public access to information. A bureaucratic shuffle will send the program over to the Department of Revenue which will boost accountability by hiring independent auditors from outside the Department of Housing and Economic Development. Furthermore, tying TIFs to job creation on a per-project-basis and making that information accessible will get heightened emphasis— something we've been promised before. [Crain's