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Board ratifies IGA with City for $175 million contingent payment tied to TIF surplus
Summary
The Chicago Board of Education approved an intergovernmental agreement authorizing up to $175 million for the Municipal Employees Annuity and Benefit Fund, contingent on the City reporting a 2026 TIF surplus above $379 million; vote was 20–0.
The Chicago Board of Education on Oct. 30 ratified an intergovernmental agreement with the City of Chicago that authorizes a payment not to exceed $175,000,000 to the Municipal Employees Annuity and Benefit Fund, contingent on a 2026 TIF surplus above $379,000,000.
Why it matters: The agreement implements a district commitment in the budget framework and links…
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