Mayor Rahm Emanuel speaks during a swearing-in ceremony in Grant Park May 16, 2011 in Chicago, Illinois.
Mayor Rahm Emanuel announced Thursday the creation of a new panel to examine and set new standards for special tax districts.
The eight-member panel, including Civic Federation President Laurence Msall and Ald. Carrie M. Austin (34th Ward), and led by former CTA chairwoman Carole Brown, has been given three months to get the job done.
"I like winning," Emanuel said, discussing how to better spread TIF money.
Emanuel said the committee's main task is to create accountability to ensure TIF investments have "real return for taxpayers – new jobs and new economic development.”
Increasing transparency is another goal of the panel, Emanuel said.
Though TIF money is usually secret, the information will be available online at Cityofchicago.org/TIF.
“Take a look at the website and submit your ideas for improving TIF data availability," Emanuel said in a statement, "or tell us how you think the TIF investment process could be improved.”