UPDATE: It seems they are moving forward with a ‘Market Rate’ apartment project and this is why the TIF is being dissolved. Funny how a TIF is now not needed since they are going to build apartments that they can charge whatever for rent. Further proof all TIFs are is developer welfare.
Many people have been asking about a supposed project North of Sunshine Grocery Downtown that received a TIF and why it hasn’t proceeded.
It seems that TenHaken administration is taking action by asking through resolution to have the council dissolve that TIF and the TIF that COSTCO never accepted. As I understand it, Norm Drake from Legacy is somehow involved with the Downtown TIF (part of it is where the current temporary dog park is located) and COSTCO opposed their TIF from the beginning because they don’t like how TIFs take from public education funding.
As I have been saying about the $190 million dollar bond issue, why are we borrowing so much on the backs of homeowners while wealthy developers are getting tax rebates? Just another reason why the Bond issue AND TIFs are flawed.
Details Below;
Another Rubic’s Cube to solve.
“COSTCO opposed their TIF from the beginning because they don’t like how TIFs take from public education funding.”
But Councilwoman Erickson claimed during the last TIF consideration that the State reimburses local Districts due to TIFs… (?)
#WhatGives?