CME Group has said that it will not accept $15m in tax incremental financing (TIF) funds from the City of Chicago.
The $15m in TIF funds had been pledged by the city for the renovation of the historic CBOT building and CME’s headquarters.
However, CME Group has announced that it will not be accepting the fund and appears to be pushing for further state tax reform.
Executive chairman Terrence Duffy sent a letter announcing his decision to Chicago’s Mayor Rahm Emanuel.
In the letter, he said the new...