Mayor Brandon Johnson’s new budget proposal recommends the city declare a historic surplus of funds from special taxing districts’ funds, shoring up the finances of Chicago Public Schools for the academic year.

The draft budget, unveiled Thursday, calls for the city to draw $1 billion from its Tax Increment Financing districts, or TIFs. More than half of that money is slated for CPS, covering the $379 million the district already anticipated and a controversial $175 million municipal pension payment.

The move marks a rare victory for CPS, allowing school officials to maintain their August spending plan — which relied heavily on TIF money — and spare classrooms from deeper cuts.

The pooled funds from TIF districts, taxing areas drawn around the city, are intended for local development

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