Isn’t it ironic while the school district asks for higher teacher pay, the city screams for another penny in sales taxes, and the county, well the county is just flat broke, they have no issue with handing out millions in TIF funding this past year.
You can’t help to notice in the news this week the city is boasting about $675 million in record building permits, and every developer, banker and his cousin are bragging up the record construction.
Which is all very fantastic, while my wallet size remains the same as my property taxes go up.
Doesn’t it seem pretty obvious with record construction (99.99% of it without TIF funding) and the need for additional property tax revenue, the time is now to put an end to TIFs? What is there purpose anymore? To spur development? To clean up blight? To help affordable housing options? Well the last two TIF’s were for luxury condos and workforce housing downtown (which is code for NOT affordable housing, but cheap enough for a working stiff to afford rent, paycheck to paycheck).
There may have been a time and space that TIF’s were needed to spur growth and development in this town, but at this point, it just seems like extreme overkill and corporate/developer welfare.
The developers will be just fine, have them experience the free market like the rest of us working stiffs, and pull the TIF funding program from the city’s charter once and for all.