This assertion that "projects would not happen if not for TIF" is a piece of the problem. Some projects would not happen. Others would. It's the others which would, which should not be funded with TIF money. For example, the Target Boondoogle downtown. Omin offered to develop the same site with NO public money. They actually owned a lot of the land anyway, which was taken away from them by eminent domaine [excuse my spelling] and given to Ryan so that they could use public money to build the Target block. A true misuse of TIF.
Diane Wiley Powderhorn Park Conor Donnelly wrote: > Wise list members, > > I'm wondering if perhaps anyone can give a rookie like me some insight > on researching TIF, or point me in the right direction. I've struggled > to get my brain around this for quite a while, so I'd love to get a hold > of some kind of TIF fact sheet, if one exists. Something summarizing the > history of TIF, figures on how extensively its been used, step by step > how the process works, and what does the future hold for TIF? > > I've only been following this discussion list for about a year now, and > never before had any interest in this sort of thing. People seem to have > very polarized opinions on TIF, especially concerning the "but for" > part. > > Terrell Brown claims that, "the TIF designation keeps money from going > into the general fund (plus to the school district, Hennepin County, > etc.) until the TIF bonds are paid off 20 or 30 years from now". > > Carol Becker's response makes TIF sound like magic. "The tax base is no > worse off because there would be no TIF money without doing the TIF > project that creates the money." > > Its hard to imagine that simply doing a project creates money. If that > were the case, why not do TIF projects all over the place and make us > all rich? However, her point is well taken, if the project would never > have happened without TIF, then there is really no loss to the general > fund. So how do I get more facts on TIF and less opinion? > > Thanks for all your help, > > Conor Donnelly > WAITEPARK > T29 R24 S1 > > P.S. A little off MPLS topic but, is the Best Buy project in Richfield a > TIF thing? > _______________________________________ > Minneapolis Issues Forum - A Civil City Civic Discussion - Mn E-Democracy > Post messages to: [EMAIL PROTECTED] > Subscribe, Unsubscribe, Digest option, and more: > http://e-democracy.org/mpls _______________________________________ Minneapolis Issues Forum - A Civil City Civic Discussion - Mn E-Democracy Post messages to: [EMAIL PROTECTED] Subscribe, Unsubscribe, Digest option, and more: http://e-democracy.org/mpls
