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Iamp;#39;m David or Cook County Clerk and in this video we have some important tools for you to better understand tiffs if you live in Chicago or suburbano County you probably live near or in a tiff District what is a tiff Tiff stands for tax increment finan ing Illinois law allows cities and villages to utilize tax increment financing as a tool to Spur Economic Development where it otherwise would not occur many cities and Villages have areas that just canamp;#39;t seem to get on their feet these areas caught in a spiral of diminished economic value and quality of life could be called blighted how are Tiff districts created a municipality conducts a St study to determine if an area is eligible for tax increment financing because it is blighted or in danger of becoming blighted if the area meets the state standards for Tiff districts the municipality determines the Tiff Districtamp;#39;s priorities creates a development plan and prepares a project budget since 1979 more than 500 Tif
