Steve Minn misstates my TIF position -- I agree a Task Force by itself is
not likely to produce results, which is why I also proposed a moratorium on
TIF. If the city can't do any TIF until an enforceable TIF policy is in
place, Council Members will have every incentive to act on the Task Force's
conclusions.
In fact, I agree with Steve's proposed TIF reforms -- and if elected I will
work vigorously to enact all of them.
Of course, none of this matters unless we can get 7 votes (or perhaps even
9) on the Council for effective TIF reform. Building a coalition on TIF
reform requires an effort to show that the reform proposals are serious, and
not just an effort to demagogue the issue. With five-plus years of
experience on the City Council, I'm sure Steve Minn knows the importance of
developing mutual trust among his colleagues in order to accomplish
effective results.
One essential item regarding TIF reform which Steve Minn fails to mention is
the relationship of TIF to the city's overall financial standing. TIF
projects add to the city's overall indebtedness, because the city issues
bonds to pay for the project, which are paid off (we hope) by dedicated tax
revenue from the project. Even a good TIF project ought to be turned down
if it threatens the city's financial standing -- if the city loses its AAA
bond rating, it will costs taxpayers millions in additional interest
expenses.
Wally Swan, on the Board of Estimate & Taxation, has pointed out that the
city's per capita indebtedness has risen from about $1900 in 1997 to about
$2900 at the end of 2000 -- a figure which is already above the amount which
the bond rating services start to re-evaluate a city's credit rating.
(Wally made these points in an op-ed piece published in the Star Tribune
before last year's library referendum).
So, in my judgment, we need to do a TIF moratorium anyway and we might as
well study TIF policy while we're waiting for the city to pay down some of
its debt. If I had to choose between a moratorium OR a Task Force, I'd
choose a moratorium.
In any event, Steve's characterization of my proposal for a TIF Task Force
as a "standard politician's answer" is ill-informed, unfair, and inaccurate.
Greg Abbott
Linden Hills
Candidate for 13th Ward
on 3/7/01 7:44 AM, Steve Minn at [EMAIL PROTECTED] wrote:
>Greg Abbott's suggestion that we need a TIF task force, etc...is a standard
>politician's answer to a lot of loud complaining. Task Forces rarely produce
>the kind of results that satisfy anyone long term...the reports gather dust on
>a shelf at City Hall, and occasionally they get some attention...usually, they
>are election year fodder.
--
Greg Abbott for City Council
13th Ward
www.gregabbott.org
[EMAIL PROTECTED]
--
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