Democratizing financing through PB
/This toolkit provides practical guidance on how to use participatory budgeting to maximize the community benefits of Tax Increment Financing.
Tax Increment Financing (TIF) is the most popular economic development financing tool in the United States. In order for TIF to be used where it is most needed, advocates need to persuade local decision-makers to reorient their allocation policies or, better yet, create alternative decision-making structures that allow those most affected by development to shape its nature and location. To achieve this, participatory budgeting (PB) holds tremendous promise.
This PB – TIF toolkit provides information for organizations and residents interested in maximizing the community benefits from TIF through more participatory decision-making processes. The toolkit includes the following:
Basic information on the mechanics of TIF and PB in Chicago and in other cities in the U.S.
A case study of Blocks Together’s use of PB to decide on spending priorities for the Chicago/Central Park TIF District in West Humboldt Park
Advice on how community residents can determine neighborhood spending priorities and research past TIF allocations in their neighborhoods.
Source: Great Cities Institute
Year of publication: 2016
