May 2021

More info on TIFs

Some of these stories and studies are NOT totally pessimistic about TIFs, but they all have an underlying theme, there really is little benefit to TIFs if they are NOT used for their original intent, cleaning up blight and providing affordable housing.

Why Tax Increment Financing Often Fails and How Communities Can Do Better (lincolninst.edu)

Dzigbede-MFC-07-15-19.pdf (brookings.edu)

FiscalTIF-20160129.pdf (cberdata.org)

Lester-Tax-Increment-Financing-in-Chicago-Working-Paper-2-12-13-FINAL-rm.pdf (unc.edu)

Improving Tax Increment Financing (TIF) for Economic Development (taxpayersci.org)

The Promises and Pitfalls of TIF in the St. Louis Metropolitan Region: A Look at Neighborhood Disparities (core.ac.uk)

Illinois Issues: TIF—The Swiss-Army Knife Development Tool | Illinois Public Media News | Illinois Public Media

(PDF) The death and life of Tax Increment Financing (TIF) (researchgate.net)

Has TIF been successful for economic development in Iowa? | The Gazette

Report: TIFs fall short of economic development promises (illinoispolicy.org)

This is the problem with the Media

While many people out there want to blame the media for fake news because of right or left leanings, I have often argued that is not the problem at all, it’s the news rooms being owned by their sponsors. Back in the day of old timey news the news room separated itself from the ad room, they practically share a desk now.

We don’t have to look to Fox, CNN or MSNBC we can look locally. How many negative stories have we heard about the major healthcare providers in Sioux Falls? Not many. There was even a large car dealership fined once for fraudulent advertising practices by the Feds, and one TV station didn’t even mention their name (or is it there name)?

Even local politicians are not challenged. As I have pointed out, there are hundreds of verifiable research studies about the harm of TIFs done by some the nations leading universities economic departments, basically they never pay for themselves, but not one single media group in South Dakota has done a comprehensive story about the negative effects of TIFs.

It is, as Mr. Oliver points out, because they are owned by their sponsors. This is the problem with the media. It has little to nothing to do with politics.

Low wages in South Dakota? Get out!

As if this story is ground breaking. I do appreciate the update in our dismal wages, high regressive taxes, and high cost of housing, but this has been going on for decades;

State and federal data routinely show that:

  • South Dakota employers pay some of the lowest wages in the nation.
  • A high number of families pay an excessive portion of their income on housing.
  • The state has a regressive system of taxation.
  • Many workers are not seeing their pay cover the rising cost of living in the state.
  • Meanwhile, the state is seeing a sharp spike in the cost of housing and health care, two critical components of living a happy life.

I will admit over the past 5 years or so I was able to quit my part-time job and only work one full-time job and make a decent living wage. I am also debt free. But this didn’t come from not working hard. I worked around 60 hours a week for over 20 years and I have NO dependents. But sometimes I wonder how much better off I would be if I just got paid a decent wage.

When I moved to Sioux Falls in 1991 my first job paid around $4.20 an hour.

Let’s face it, as long as we keep electing Republican business owners to the legislature we will continue to have regressive sales taxes, low wages and unaffordable housing. We need a progressive state legislature that stands up for workers.

I know, I am dreaming.

I have suggested to Sioux Falls city councilors that they institute a wage listing ordinance that forces businesses to list there minimum/maximum wage in a job listing for the Sioux Falls metro. Research has shown that not only will employers pay more they will get better and more applicants. It’s not just a win for workers it is a win for businesses.

It’s time we stop screwing around, especially in Sioux Falls, and invest in our workers.

Sioux Falls City Council Agenda, May 25-26, 2021

NOTE: The City Council has a very busy agenda over 2 days. They will be discussing some very important issues.

City Council Working Session • 2 PM • Tuesday May 25

Council will be discussing Medical Cannabis (I really wish this working session was on a day with not a full agenda and after 5 PM so people could attend and speak out, but they are not real keen on transparency 🙂

Informational Meeting • 4 PM • Tuesday May 25

City April financials

Minnehaha County/City Council joint meeting • 5 PM • Tuesday May 25

Private airport conditional use permit (I am still on the fence about this, but also believe that we seem to have so much wealth in Sioux Falls, the upper crust needs to build themselves their own private airport. I flew commercial last week, it wasn’t so bad).

Lincoln County/City Council joint meeting • 7 PM • Tuesday May 25

Zoning issues, two items

City Council Working Session • 10:30 AM • Wednesday May 26

Discussing appropriations for Covid Supplements (another prime example of a meeting that should be after 5 PM. Wouldn’t regular folks like to weigh in on this, kind of hard on a Wednesday morning when they are all at work. You do realize, this shows just how little they care about our opinion).