Two Chicago aldermen are pressing members of the Chicago Board of Education to support their plan to use surplus tax increment financing (TIF) revenue to plug CPS’ budget hole for the upcoming 2017 school year.

At yesterday’s monthly meeting of the full Board, Ald. George Cardenas (12), of Brighton Park, and Ald. Scott Waguespack (32) of Wicker Park and West Town, urged BOE members to support an ordinance they introduced in City Council last week that would create a mechanism for the city to annually assess the district’s financial needs and use surplus TIF money to help fill the hole.

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