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New TIF For Wrigley?

A New Twist on an Old Trick If the state has its way, a TIF on sales taxes means you’ll be funding the rehab of Wrigley Field.

Just when the public has finally begun to show signs of seeing through the fog that surrounds tax increment financing, the state has floated the idea of a rigging up a new kind of TIF. When Sam Zell bought the Tribune Company, vowing to break it up and sell off the pieces, one of the most valuable pieces was the Cubs, Wrigley Field included. In January former governor Jim Thompson, chair of the Illinois Sports Facilities Authority, revealed that Zell had come to him and Governor Blagojevich with a proposal to have the state buy Wrigley and use public money to pay for its makeover.

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