Meeting with Gene Saffold, CFO of the city
This past Monday members of RYH met with the CFO of the city, Gene Saffold. Also in attendance were Diana Ferguson, CFO of CPS and her associate, Christina Herzog. Overall, it was a positive meeting and Mr. Saffold was open to listening to our views on TIF and the need for the city to return the TIF surplus this year to CPS and other taxing bodies. He did tell us that the city has hired an outside consulting firm to review each TIF account in order to determine the correct dollar amounts for unallocated projects. He indicated that this report will be completed and they will have a decision on whether to return the surplus and how much by early October and will present it to the city council. It will then be up to the council to vote on it in their larger budget vote. We were very clear with Mr. Saffold that parents across Chicago are looking toward the Mayor to make the right decision on the TIF surplus and that we believe it is not just the state that needs to do a better job of prioritizing education, but the city as well. He was very gracious and said he would communicate our message to the mayor and will also follow-up on our request for a meeting with the Mayor made via letter on June 1st.