Arkansas Blog: Fayetteville's TIF sinkhole

« We're hooked on fishing UPDATE | Main | Prince of darkness busted »

Fayetteville's TIF sinkhole

The Iconoclast turns his attention to recent news coverage of the big hole in the ground in downtown Fayetteville where a hotel was -- maybe is -- supposed to rise, though nothing but an eyesore has been created since 2004, when a Tax Increment Finance scheme got rolling. The developers contend they've paid full damages for not meeting the construction schedule, even if the hole in the ground remains for the next decade. They will continue to hang onto a portion of property tax increases on the property, too. Heckuva deal this TIF.

Posted by Max Brantley on July 23, 2008 10:47 AM | Permalink

Comments

Well...we can't keep sucking everything out of Mother Earth without some shifting...at least.

Posted by: zelda | July 23, 2008 11:05 AM

After the national stories about the Houston crane crashing down the TIF-Welfare Leaders in Fayetteville did manage to remove the large crain parked beside their hole in the ground. That's a
good metaphor for TIFs in general. Hole in the Ground, or hole in the taxpayers' pockets.

Thanks for mentioning they get to pocket the tax savings.
.

Posted by: eLwood | July 23, 2008 11:27 AM

Post a comment

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)

Name:

Email Address:

URL:

Remember personal info?

Comments: The only required information is the comment itself. If you supply a URL it will be displayed. Email will not be displayed.

Hit with a board
Date: 8/14/2008
By: David Koon
The second Friday of every month, John McNeill gets in his truck and makes the drive from Hot Springs to Little Rock for the Arkansas State Contractors Licensing Board meeting. /more/

Hardin's expense account
Date: 8/14/2008
By: Arkansas Times Staff
It came as something of a surprise when the University of Central Arkansas reported in a state Higher Education Department pay survey that President Lu Hardin's benefits included a $57,000 annual expense account financed by the UCA Foundation. /more/

Try the tofu
Date: 8/14/2008
By: Arkansas Times Staff
An Arkansas politician is expected to eat the coon just as a follower of Jim Jones was expected to drink the Kool-Aid - no hesitation, no excuses. /more/

Home / Blogs / This Week / Entertainment / Real Estate / Classifieds / Subscribe / Contact