Chicago Teachers Union protests River Point Development TIF

CHICAGO (WLS) -- Chicago Teachers Union members are protesting a project that they say is wasting money that could help save teachers jobs.

The TIF, or tax increment financing project, is River Point Development.

The CTU says it is city-funded and that the developer is a multi-millionaire who has given money to Gov. Bruce Rauner and Chicago Public Schools CEO Forrest Claypool.

The union says that money should be used to prevent teacher layoffs. Organizers plan to march from City Hall to River Point.

CPS directed schools to prepare for layoffs following the CTU rejection of an offer earlier this month.