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david or coke I clerk and in this video we have some important tools for you to better understand tips if you live in Chicago or suburban Cook County you probably live near or in a TIF district what is a tip tip stands for tax implement financing 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 Howard TIF districts created a municipality conducts the 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 tip districts the municipality determines the tip districts priorities creates a development plan and prepares a project budget since 1979 more than 500 TIF districts have been created in
