Carol,
I really appreciate your diligence in defending and clarifying posts about
the budget. It helps me balance many things. However, I think some of your
assumptions are erroneous as to why some of us have been questioning the use
of TIF. For me, it is not about Monday morning quarterbacking and it is not
about stepping back and looking at what a great downtown we have created or
the chance to avoid having some development go out to the 494 strip. I
believe it is about a core philosophy that generates excitement such that it
inspires business leaders and others to create a great Minneapolis without
corporate wealthfare.
For instance, did Minneapolis really need to use TIF at the corner of 50th
and France. It is one of the most sought after upscale retailing areas. We
should have encouraged the development, but paying someone to develop there
is just extra gravy. You can argue all you want about the eventual increase
in sales taxes, but we should have been able to capture those dollars
immediately. And if our city is so vibrant as you say it is, why are we
giving huge amounts of money to someone like Steven Spielberg or Disney one
of the hottest retailers like Target Corporation? The answer is because we
have, and they expect it.
What we should be doing is investing in housing, parks, schools and
infrastructure so that the best people will live here and the best retailers
and business will want to build here. Many of us believe that if we had been
doing this, we wouldn't have the large debts we have in infrastructure and
perhaps the curb and gutter in my neighborhood wouldn't be continuing to
fall apart. TIF has it's place, it just isn't the places we've been using
it.
You see Carol, many of us believe there is another way. It isn't about
Corporate handouts; it's about Corporate America stepping up to the plate
and doing the right thing for all of our cities. In a time of record
profits, those companies should be investing in the future, not taking from
the taxpayers limited resources. And many of us believe that the city is
not in the banking business. We need to get back to our core role.
And don't forget, 494 has a huge TIF district to attract a major wealthy
corporate tenant from Eden Prairie to Bloomington. Once we start going down
this path, it just gets worse. :-)
Russ Peterson
Ward 9
Standish Ericsson
R U S S E L L P E T E R S O N D E S I G N
"You can only fly if you stretch your wings."
3857 23rd Avenue South
Minneapolis, MN 55407
612-724-2331
[EMAIL PROTECTED]
Russell W. Peterson, RA, CID
Founder
