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Mayoral Candidate, Alderman Bob Fioretti, held a press conference to condemn Mayor Rahm Emanuel for giving the Marriott Corporation $55 million in TIF funds for a new hotel. Progress Illinois reports that Fioretti has called for a temporary halt to any new TIFs.

The alderman, if elected, “will call for an immediate moratorium on any new TIFs” as well as an independent audit of the program. Among other ideas, Fioretti says he would declare a surplus of unallocated TIF funds, with the money used “to reopen our mental health clinics, shore up some of our school budgets, turn some of the closed schools into community centers that drive economic development and begin meaningful neighborhood economic development programs.”

Emanuel has long been accused of using the TIF program as a slush fund.

Fioretti is one of nine candidates challenging Emanuel in the February 24th election.


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