CHICAGO -- Chicago should declare a tax-increment financing surplus to free up some TIF revenue for the Chicago Public Schools as it grapples with a $1 billion deficit in its fiscal 2014 budget, Cook County Clerk David Orr urged.

TIF revenue rose almost 1 % in Chicago while falling by 3% in the suburbs, according to the 2012 TIF revenue report released by Orr’s office late last week.

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