Jack Pearadin and Doug Nelsen found a 1.73-carat diamond after nearly a year of searching the park's field.
Fayetteville has the misfortune of being one of the few places in the state that got hung with a tax increment finance district — a developers' scheme (abetted by the city government lobby) to steal school tax revenue to subsidize private developers.
The big downtown redevelopment promised from stealing Fayetteville tax millage didn't happen, though a derelict hotel was demolished to give way to a hole in the ground. But the Fayetteville TIF, which covers a big chunk of downtown, keeps stealing school tax revenue. And now the county assessor says the TIF should also be able to steal a portion of a new school property tax increase in Fayetteville to pay for a new high school.
The school district may sue over the loss of $25,000 a year. Another state law supposedly exempted new taxes from being commandeered by old TIF districts.
Bottom line: TIF district didn't create the promised prosperity. Same old story for government handouts.
Any college chancellor who worries about crap like this is vastly overpaid.
You know the answer to your own question, DBI. Why else would people in Fayetteville…
How is an EITC "welfare" when a tax-cut is not? Do we want to incentivize…