As I have mentioned before, with Sioux Falls School District recently passing a $50 million dollar opt-out and the plans for a possible $30 million dollar bond for a new HS this is the WRONG time to be handing out property tax discounts in the form of TIF’s to wealthy, successful developers. Not to mention all the issues with open enrollment causing widespread segregation and almost half of Sioux Falls students on FREE or reduced lunches.

Here are a few more reasons;

• The county is struggling to make ends meet with rising crime while building a new jail.

• Developers, especially one of the largest in the city, having been doing very well for a long time, especially with record breaking building permits, do they really need tax discounts or breaks to be successful? Shouldn’t we be focusing tax incentives on affordable and workforce housing and not retail and luxury lofts?

• The state is in the midst of considering some rule changes when it comes to giving so much power to municipalities concerning TIF’s. Expect some legislation in the upcoming 2018 session. Not only does the county and school district want a bigger say in these matters, so does the state.

• There are numerous conflicts of interest on the council. Besides Councilor Marshall Selberg being an independent contractor for Lloyd Companies, the mayor and some of the others have received campaign donations from Lloyd. Starr, Neitzert and Stehly seem to be the only candidates who have not. You can’t hardly vote on a $43 million dollar project with a TIF incentive with only 3 votes.

There are way to many conflicts of interest here for the council to even consider a TIF incentive. I think approving the project is fine, but when it concerns a tax discount, that should be taken off the table.

2 Thoughts on “More concerns about a possible multi-million dollar TIF to developer

  1. anonymous on August 4, 2017 at 3:17 pm said:

    The Lloyd family owns over 5,000 rental units.

  2. The D@ily Spin on August 4, 2017 at 5:28 pm said:

    Lots of reasons to shut this TIF down but it’s gonna happen without a council vote. What Mikey wants Mikey gets. Also, it’s to late to recall or even censure him. Isn’t it time to take away Strong Mayor Charter and restore democracy? There’s worse yet to come. He’ll spend another 10 million or so in worse ways before the end of his term.

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