Mayor Hays' TIF | Arkansas Blog

Thursday, December 18, 2008

Mayor Hays' TIF

Posted By on Thu, Dec 18, 2008 at 5:15 PM

 

click to enlarge unknown.jpg

 Scott Miller at the NLR Daily News has the map of Mayor Hays' amazing TIF district. It would declare city streets, but no other additional land, as part of a hotel TIF district at Broadway and Maple. The streets will tie it up with two existing TIF districts -- at Main Street and Broadway and covering The Enclave apartments across from Alltel Arena.

The mayor claims he's doing this to make improvements on the streets newly added to the hotel TIF (about five years after the fact of creating an unrealized TIF for The Enclave area.) But he's only doing it so he can, by the most obviously contrived way, make the new district contiguous with existing districts, which the law requires.

He wants to do this so he can steal the property taxes on new construction already completed at The Enclave and the Argenta Place project. This will take $100,00 or so a year in property taxes from the schools and use it to build a parking deck and put in some fancy street lights. It will create no development that benefits the schools, except in the most tangential fashion. The Enclave, arguably and hopefully, creates new demand for the schools with new residents. But it was built solely with private money.

The map says it all about the flim-flammery. Strands of spaghetti connecting meatballs (the three pink-shaded areas are TIF districts) was, I believe, how Miller put it.


Sign up for the Daily Update email
Favorite

Comments (2)

Showing 1-2 of 2

Add a comment

 
Subscribe to this thread:
Showing 1-2 of 2

Add a comment

More by Max Brantley

Readers also liked…

  • Trump immigration protest at LR: Quick and fierce

    It was not even 24 hours ago that Sophia Said, director of the Interfaith Center; City Director Kathy Webb and others decided to organize a protest today of Donald Trump's executive order that has left people from Muslim countries languishing in airports or unable to come to the US at all — people with visas, green cards,a  post-doc graduate student en route to Harvard, Google employees abroad, families. I got the message today before noon; others didn't find out until it was going on. But however folks found out, they turned out in huge numbers, more than thousand men, women and children, on the grounds of the state Capitol to listen to speakers from all faiths and many countries.
    • Jan 29, 2017
  • Your daily dose of Jason Rapert

    Sen. Jason Rapert really, really didn't like it when a KATV reporter asked him about the hypocrisy of his political arguments.
    • Feb 4, 2017
  • Payday lenders on the march at legislature

    Payday lenders are working hard to get legislative cover for the reintroduction of their usurious loan business to Arkansas. Some are fighting back.
    • Mar 10, 2017

Most Viewed

Most Recent Comments

Slideshows

 

© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation