Mayor Daley loved TIF funds - tax dollars given to spur economic development and growth in struggling areas of the city. However, a four-month investigation by Columbia College journalism students at Chicago Talks revealed that less than half of the monies were actually spent in this manner. The Chicago News Cooperative reports that the investigation found a huge chunk of TIF monies went to profitable companies and some non-profits centered in the loop, while many of the city's actual economically depressed areas received little benefits. more ›

Earlier this year 49th Ward Alderman Joe Moore opened up hearings to his constituency on how to best spend $1.3 million in funding for infrastructure improvements. So-called participatory budgets have been around for years in South America, but the 49th Ward was the first place in the United States to try this out. more ›

Weber-Stephen Products Co., which manufactures all of their charcoal grills, as well as the Summit, Genesis and On-the-Go lines in Palatine, has signed a long-term lease on a nearly 250,000-square-foot building in Elgin, Crain's is reporting. Weber plans to expand its local distribution operations, and the site's proximity to I-55, as well as the option to take occupancy quickly were key parts of the deal. No word on how many jobs this will mean for the Chicago metro area, but with consumer spending still lagging and manufacturing taking a beating these days, expansion of a business that manufactures at least some of its product locally is good news for Illinois. more ›

Mayor Daley dismissed an independent analysis of the economic potential of the 2016 Olympic Games on Thursday, first with an ad hominem attack on the state of Michigan, and then with a less-than-nuanced economic retort of his own. The report, which was prepared by the East Lansing, MI-based Anderson Economic Group, shows that the 2016 Summer Games would result in "a net economic impact of more than $4.4 billion," far less than the $19 billion Olympic boosters have projected. "We have individuals coming from Michigan, telling us what to do. Telling us how bad our economy is," Daley said at an event in Pilsen. "We know how bad our economy is, they wish they had the Summer Olympics. I feel sorry for the people in Michigan, in Detroit and all over Michigan." more ›

It's been an up-and-down year for Block 37, from the Apple Store debacle to landing a few high-end tenants. And a Sunglass Hut. The roller-coaster ride continues as Loews Hotels has backed out of an agreement to bring a four-star, 384-room to the project. Loews had bought the rights to the property for $1 and was still seeking financing for the $175 million project, which would have started construction next year for a 2013 opening. According to Crain's: more ›

Like his old man, Mayor Richard M. Daley is determined to transform public housing as part of his legacy (here's hoping it turns out better than Sr.'s effort -- several detractors don't have high hopes). His plan is creeping forever forward -- it's currently many years behind -- and the city will eventually replace CHA high rise projects like Robert Taylor Homes and Cabrini-Green with mixed-income housing. more ›

Surprise, surprise: Chicago will not be banning retail stores from distributing plastic bags anytime soon, but steps are being taken to institute a plastic bag recycling program. According to the Sun-Times, Alderman Ed Burke from the 14th Ward proposed a "San Francisco-style ban on non-compostable plastic bags" last May, but he was ultimately forced to compromise. Now, Burke is joining Economic Development Committee Chairman Marge Laurino from the 39th Ward in proposing a much softer ordinance that instead of banning bags creates bag recycling options. more ›

When you think of the nation’s top tourist destinations, family favorite Orlando, Fla., and adult playground Las Vegas, Nev., might spring to mind. But our own Windy City? Depends on who you ask…. In June, tourism officials from the city and state proclaimed that the number of domestic visitors journeying to our fair city had increased by nearly ten percent, from 40.2 million in 2005 to 44.6 million in 2006 — a significant achievement, to... more ›

Four major film productions are lensing in Chicago this summer, including The Break-Up with Jennifer Aniston and Lake Forest’s own Vince Vaughn. With six more projects set to begin production in Illinois this year, you’d think that the folks in the Illinois and Chicago film offices could sit back and congratulate themselves on a job well done. Yet other state film offices are on the chopping block due to budget shortfalls. Also, the tax credits... more ›