Fayetteville's hole in the ground | Arkansas Blog

Monday, August 20, 2007

Fayetteville's hole in the ground

Posted By on Mon, Aug 20, 2007 at 8:51 AM

Our community blogger Street Jazz and the Iconoclast, another NWA blogger, are continuing to raise heck about the hole in the ground in Fayetteville where a hotel was supposed to be as of Sept. 1.

Real simple issue: Does the city enforce the $25,000-a-month penalty provision against developers for failing to deliver? Or does it forgive and forget? Forgiving the obligation would provide further proof that this was just another one-sided corporate welfare scam all along, one that became more difficult when the Arkansas Supreme Court outlawed the TIF-rape of school taxes to subsidize the project.

UPDATE: And speaking of f***ed up TIF projects, here's another Tax Increment Finance District gone sour, to build a road in Johnson. We told you so, boys. We told you so.

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