Vicky said: " The Allina employees will have to buy a lot of trinkets on Lake Street (at .5% sales tax) to retire the $30 million TIF debt, plus interest. Remember that the property taxes will NOT be going into the City's general fund."
Nick responds: You make it sound as if there would be no paydown of the debt and no property taxes going to the general fund ie no property taxes associated with the project. That is not the case. The property taxes in the TIF district go to retiring the TIF debt. That is why the don't go to the general fund.
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