Economic development, TIF style
This beats all. The no-show hotel in Fayetteville -- subsidized by local taxpayers with school tax money -- is proposed as a site for a parking lot. Yes, Tax Increment Finance fans, tax dollars will subsidize a parking lot. Hey, it will create a part-time job for the guy who puts tickets on the cars whose drivers haven't dropped coins in the box.
Comments
Ah, FILL-IN-THE-HOLE-FOR-COODY'S-ELECTION job.
I hope a certain newspaper guy I know got that aerial photo of the TIF HOLE.
And Max don't be too sure it will create A job. What do you wanna bet they will end up
leasing the parking spaces, especially if the parking lot is covered?
.
Posted by: eLwood![[TypeKey Profile Page]](http://www.arktimes.com/blogs/arkansasblog/nav-commenters.gif)
|
August 31, 2008 01:50 PM
This taxpayer wants a refund.. send it back to the schools!
Posted by: Eureka Springs, AR![[TypeKey Profile Page]](http://www.arktimes.com/blogs/arkansasblog/nav-commenters.gif)
|
August 31, 2008 02:23 PM
Gee, the anti TIF bias is so boring. It is a good program to develop blighted areas and increase tax receipts. Now whether downtown FayetteNam is blighted is in the eye of the beholder. What was obvious is that the property sat vacant and deteriorating and had for years. TIF is for paying off bonds with the increased assessment created with the development. So far no effect. Why? no development. No increase. If they do build a parking lot the assessment goes up and then the TIF becomes effective. Why the bitching about this? The schools don't lose. They continue to receive the same as if the development had not occurred. Without TIF the development would not occur.
Posted by: FortSmithBoy![[TypeKey Profile Page]](http://www.arktimes.com/blogs/arkansasblog/nav-commenters.gif)
|
August 31, 2008 05:46 PM