|
Post by Alex Oreilly on Feb 10, 2014 21:17:20 GMT -5
Gettysburg hasn't had much growth? Are you kidding me? I moved away in 1999 and I can hardly recognize the area when I go back. If you want to see an area that hasn't developed and that is low income, come to the rust belt and go up toward brockway, pa, and drive around western and central new york. If you want to build a development, you should front your own costs for needed infrastructure improvements and quiet down the cold sale "sale sale sale deal deal deal!!!" rhetoric in the invite. Call me a cynic, but I somehow doubt there will be much discussion of the cons of TIF financing at the meeting. If anyone wants to see the cons, there's plenty on the internet. Instead of talking about tax increases due to reassessments or sales, why not prove that your taking money through TIF financing is somehow going to reduce property taxes by getting it in legislation describing how and how much? DaveW, Normally I would agree with you about a business paying for their own infrastructure but with the way the economy is, Businesses need an incentive to come here and build this is an incentive that does not hurt anyone. Would the Townships, School and County get more tax money if the businesses did it all on their own and payed their taxes without TIF, yes but with out the Developers getting the TFI there is no new business. Sadly though that is what the Straban Township Supervisors want but I'm sure if you would ask the regular citizens of Straban they would say that they want business
|
|
|
Post by getysbg on Feb 10, 2014 21:23:09 GMT -5
Don't forget that all those stores with the 8.00 an hour jobs need managers. If it's a restaurant, chefs make very good money. The guy who owns the lawn service that cuts our grass and shovels my snow is making a good buck. If they have health care training... The point is: if you don't want an 8.00 an hour job, make yourself worth more.
|
|
|
Post by Alex Oreilly on Feb 10, 2014 21:26:46 GMT -5
More businesses in the community means more chances for advancement for people to move up into a management position.
|
|
Dexter
Supreme Poster
Posts: 261
|
Post by Dexter on Feb 10, 2014 21:34:47 GMT -5
Can someone show me statistics that show this 55 plus community will produce more tax income than the services they will need? I remember studies in the past showed that residential development cost more than they brought in. Maybe the 55-ers won't have kids in school, but don't they need roads plowed? Don't they need ambulance (probably more than most), fire service, police service? I'm not trying to be a debbie downer, but, I sure won't be ready to say that this thing will increase the tax base. I'd wanna see some numbers.
|
|
moose
Post Master
Posts: 184
|
Post by moose on Feb 10, 2014 22:04:25 GMT -5
Wow, I didn't know you could spin a TIF to sound so appealing. It's kinda like polishing a turd. In the end, it's still a turd no matter how shiny it is. Here our Commissioners want to spend over a million dollars to spur development in the Industrial Park ( www.eveningsun.com/local/ci_25087245/adams-county-commissioners-pay-1-08-million-develop). Yet they sit idly by and let the assessor assess this million dollar property at pennies on the dollar ( spreadthemustard.com/Tax%20Assessment/Kirby_Land_Holdings.pdf). They are letting the owner of this commercial parcel skate out on a $15,000 annual tax burden ($3300/county; $9000/Gettysburg School District; and $3100/municipal) by recognizing this parcel as agricultural land, even though by its very deed the developers agreed to develop it within four years. By forgiving the tax burden, they allow the developer to sit on this property. NOW we (the County) is/are going to buy it back. DUH! If this property cost the developer $15,000 annually, he would have some incentive to develop/sell it! First we subsidize the property with our money, then we use our money to buy it in hopes that we can re-sell it. Who's minding the store?
|
|
|
Post by ravensgirl21 on Feb 11, 2014 9:08:47 GMT -5
All of your valid questions and conerns will be answered at a meeting on Feb 24th 7 pm, Mon at the Links Clubhouse at 601 Mason Dixon Rd The Links at Gettysburg. (lite food and drinks will be provided) The developer will be there along with others to answer questions, show the beautiful designed plans. TIF will be explained and why it will in fact be a win win for all. So much negative thoughts on the TIF, yet the facts are the facts. If you want answers attend the meeting, you will get the answers. I just have to say this one more time, I do not get why people are not all for growth, especially when it will be proven fact to add jobs and revenue for community. ? Keep an open mind, do research on facts, hear the pros and cons straight from the horses mouth, then decide.
|
|
davew
Poster Child
Posts: 308
|
Post by davew on Feb 11, 2014 9:47:52 GMT -5
Walmart was there. None of the hotels were there other than the days inn behind perkins. Everything else out there is new. Parts of what has peebles in it now was there, and has been there in various forms (was once Jamesway and festival foods, but has become various things).
There really isn't a lack of development in straban.
Before you want the township to issue debt on your behalf, run service to you, plow streets, etc, you need to prove that the development is actually going to lower taxes. I haven't seen anything that says it will. I don't know what the situation is with public sewer and water out there, but I wonder how many long-time residents will be forced to pay out of their own pocket to hook up once you move in there. Is that to their benefit?
Why don't you tell us what skin you have in the development, because your catch phrases at the end of each post or littered all the way through each post completely destroy your credibility. Tell us what your bias is, who you work for? Answer questions people actually want to know. The entire tone of your delivery comes across as a cheap sales pitch. Sales pitches are free. Putting something legally binding (like the amount of tax reduction that would happen for residents) is not. Work on the latter.
We have a lot of development where I live. None of it reduces taxes. I didn't listen to those trying to extract local money to pay for their own development, but I'd assume that they had the "your taxes will go down" message, too. Tell us legally binding details of how it's going to work instead of "sale sale sale deal deal deal save save save" kind of pitches. Put the numbers there - actual numbers. Show everyone how your TIF isn't going to increase the burden on other taxpayers like every or almost every other TIF has.
|
|
davew
Poster Child
Posts: 308
|
Post by davew on Feb 11, 2014 9:54:32 GMT -5
All of your valid questions and conerns will be answered at a meeting on Feb 24th 7 pm, Mon at the Links Clubhouse at 601 Mason Dixon Rd The Links at Gettysburg. (lite food and drinks will be provided) The developer will be there along with others to answer questions, show the beautiful designed plans. TIF will be explained and why it will in fact be a win win for all. So much negative thoughts on the TIF, yet the facts are the facts. If you want answers attend the meeting, you will get the answers. I just have to say this one more time, I do not get why people are not all for growth, especially when it will be proven fact to add jobs and revenue for community. ? Keep an open mind, do research on facts, hear the pros and cons straight from the horses mouth, then decide. Another empty post with no facts. I hope you will post a transcript of the meeting, or a video of it. Facts are facts with the TIF - yes, the TIF usually pays costs a developer should pay and then repayment siphons revenue so that someone else is covering the balance of the actual cost to provide services. Of course the developer would love to paint that as a win-win. Showing that it's actually a win for someone other than the developer and the new residents (as opposed to the rest of the township and current residents) is what you're not doing, and I hope you do it in the meeting. It's not negativity when someone asks you to show actual facts or discuss solutions in dollars and that are legally binding.
|
|
|
Post by lifesaver on Feb 11, 2014 9:55:59 GMT -5
Wow, I didn't know you could spin a TIF to sound so appealing. It's kinda like polishing a turd. In the end, it's still a turd no matter how shiny it is. Here our Commissioners want to spend over a million dollars to spur development in the Industrial Park ( www.eveningsun.com/local/ci_25087245/adams-county-commissioners-pay-1-08-million-develop). Yet they sit idly by and let the assessor assess this million dollar property at pennies on the dollar ( spreadthemustard.com/Tax%20Assessment/Kirby_Land_Holdings.pdf). They are letting the owner of this commercial parcel skate out on a $15,000 annual tax burden ($3300/county; $9000/Gettysburg School District; and $3100/municipal) by recognizing this parcel as agricultural land, even though by its very deed the developers agreed to develop it within four years. By forgiving the tax burden, they allow the developer to sit on this property. NOW we (the County) is/are going to buy it back. DUH! If this property cost the developer $15,000 annually, he would have some incentive to develop/sell it! First we subsidize the property with our money, then we use our money to buy it in hopes that we can re-sell it. Who's minding the store? Allow me to play devil's advocate here moose. If I'm misunderstanding something here let me know. The parcel you described is NOT, from what I understand, the site of the proposed development. If you were using it just as an example of the inconsistencies in taxing the people of Adams County then you should disclose that, and I agree, this doesn't seem kosher to me. The site of the proposed development, from what I've been told, is still under contract, it has not been sold. As far as I know under contract doesn't mean a thing to the buyer until the papers are signed, transferring ownership. If you are buying a house not one piece of furniture can go into that house until it's yours. So, if the land is being taxed agricultural or even in clean and green, until the deal is finalized it has nothing to do with the developer as to how much tax the owners pay. Correct? Second, let's assume that all of your points are valid (and I'm not doubting they are). So, to you the solution is to stick it to the developer and deny him/her the chance to build something that has the potential to have a positive effect on growth in Adams County. That's cutting off your nose to spite your face. I think you've got the right idea with Spread the Mustard and holding the commissioner's feet to the fire. Get to the root of the problem, if there is criminal wrongdoing expose it.
|
|
davew
Poster Child
Posts: 308
|
Post by davew on Feb 11, 2014 10:00:34 GMT -5
Gettysburg hasn't had much growth? Are you kidding me? I moved away in 1999 and I can hardly recognize the area when I go back. If you want to see an area that hasn't developed and that is low income, come to the rust belt and go up toward brockway, pa, and drive around western and central new york. If you want to build a development, you should front your own costs for needed infrastructure improvements and quiet down the cold sale "sale sale sale deal deal deal!!!" rhetoric in the invite. Call me a cynic, but I somehow doubt there will be much discussion of the cons of TIF financing at the meeting. If anyone wants to see the cons, there's plenty on the internet. Instead of talking about tax increases due to reassessments or sales, why not prove that your taking money through TIF financing is somehow going to reduce property taxes by getting it in legislation describing how and how much? DaveW, Normally I would agree with you about a business paying for their own infrastructure but with the way the economy is, Businesses need an incentive to come here and build this is an incentive that does not hurt anyone. Would the Townships, School and County get more tax money if the businesses did it all on their own and payed their taxes without TIF, yes but with out the Developers getting the TFI there is no new business. Sadly though that is what the Straban Township Supervisors want but I'm sure if you would ask the regular citizens of Straban they would say that they want business If I was still a straban resident, I'd like to see some actual reduction in my own costs, and proof that it's going to occur. I haven't seen any proof of that, just talk that looks like cut and paste bullet point sales listing. It should be very easy to demonstrate numerically what the cost to provide township and county services to the residents will be and show that they will be paying more in taxes than they're using. I could ask my parents (who are still straban residents, and who will soon be forced to hook up to either water or sewer (can't remember which) and pay for their connection. I doubt they care about large housing plans - they'd probably be opposed. Different than Target, etc, that they would like to see show up locally.
|
|
davew
Poster Child
Posts: 308
|
Post by davew on Feb 11, 2014 10:02:40 GMT -5
Second, let's assume that all of your points are valid (and I'm not doubting they are). So, to you the solution is to stick it to the developer and deny him/her the chance to build something that has the potential to have a positive effect on growth in Adams County. That's cutting off your nose to spite your face. I think you've got the right idea with Spread the Mustard and holding the commissioner's feet to the fire. Get to the root of the problem, if there is criminal wrongdoing expose it. To say the developer's been denied anything is like me asking you for money to make improvements on my property and saying that you're denying me of my right to improve my property if you don't give it to me.
|
|
Egg Hunt
Going Postal
I'm still just Egg Hunt!
Posts: 35
|
Post by Egg Hunt on Feb 11, 2014 10:19:13 GMT -5
Lifesaver said: "So, to you the solution is to stick it to the developer and deny him/her the chance to build something that has the potential to have a positive effect on growth in Adams..."
Lifesaver, I have no problem (that I can think of) with a project of this magnitude that will "have a positive effect" on Adams County. It looks like the comments that may appear to "oppose" the development, are really just opposition to using the TIF to finance it. I haven't seen anyone yet who denies the developer's rights to go forward with their project. It looks like they just don't want it done with TIF monies Has anyone seen who the developer is yet, and whether he/she has a track record?
|
|
|
Post by lifesaver on Feb 11, 2014 10:22:25 GMT -5
All of your valid questions and conerns will be answered at a meeting on Feb 24th 7 pm, Mon at the Links Clubhouse at 601 Mason Dixon Rd The Links at Gettysburg. (lite food and drinks will be provided)
I just have to say this one more time, I do not get why people are not all for growth, especially when it will be proven fact to add jobs and revenue for community. ? Keep an open mind, do research on facts, hear the pros and cons straight from the horses mouth, then decide. I don't think people are against growth (and I disagree with davew that there is enough growth in Gettysburg). Why? Because if there was davew I wouldn't be making the trip to Chambersburg to shop for things that I could buy in Gettysburg. I was at the first meeting. It was not a hard sell meeting. The crowd wasn't a hell, yeah let's do it. A lot of valid questions were asked. It was NEVER presented as a tax relief solution for Gettysburg. There were figures presented with current tax revenue on the property as is, as well as figures with projected tax revenue for the completed project. Let's just say it was quite a difference. As far as the jobs factor, yes, there will be some job creation from the project. I'm not as sold on the job creation as I am the tax revenue because we don't have a competitive market when it comes to Chambersburg or Hanover. Sure the small local shops are nice and you can buy unique things but beyond grocery stores we can't compare to Hanover or Chambersburg. Even our Walmart is dinky and antiquated. Rouzerville has it all over us, for God's sake, with the nicest Super Walmart around AND a Lowe's. We need that here, and I would prefer if we had at least something like that here before we look to build a huge development. I would rather see the TIF financing go to that right now if you had to choose between the two. But IDK, perhaps the development will spark the impetus to get those kind of things going, who knows. I have my own concerns about TIF financing, and admit I probably don't know all I need to know, but if this is the only way this will happen is it necessarily a bad thing? Like I said, I don't think most people are against growth, I think they are cautious and don't understand what is being proposed. Some is pure apathy, some distrust of anything government regulated, and some still reeling from the tax reassessment. I agree that you should learn about the project and TIF financing before you jump on board, you should not look at it as a savior to us all in Adams County, but you should not simply dismiss the project because you don't understand it or are opposed to someone actually making a profit from it. For if we do the preservationists and conservationists will continue to chip away at our county little by little, until there will be nothing left to develop. I think we need to think long and hard about that possibility.
|
|
|
Post by lifesaver on Feb 11, 2014 10:28:31 GMT -5
Lifesaver said: "So, to you the solution is to stick it to the developer and deny him/her the chance to build something that has the potential to have a positive effect on growth in Adams..."
Lifesaver, I have no problem (that I can think of) with a project of this magnitude that will "have a positive effect" on Adams County. It looks like the comments that may appear to "oppose" the development, are really just opposition to using the TIF to finance it. I haven't seen anyone yet who denies the developer's rights to go forward with their project. It looks like they just don't want it done with TIF monies Has anyone seen who the developer is yet, and whether he/she has a track record? Agree Egg Hunt. I think we should look at is as a "positive effect" and also agree that the TIF financing is the biggest challenge for people to support the project. I can't speak for the track record of the developer, but I know they presented similar projects such as this throughout the country that have been very succesful.
|
|
Egg Hunt
Going Postal
I'm still just Egg Hunt!
Posts: 35
|
Post by Egg Hunt on Feb 11, 2014 10:34:04 GMT -5
All of your valid questions and conerns will be answered at a meeting on Feb 24th 7 pm, Mon at the Links Clubhouse at 601 Mason Dixon Rd The Links at Gettysburg. (lite food and drinks will be provided) The developer will be there along with others to answer questions, show the beautiful designed plans. TIF will be explained and why it will in fact be a win win for all. So much negative thoughts on the TIF, yet the facts are the facts. If you want answers attend the meeting, you will get the answers. I just have to say this one more time, I do not get why people are not all for growth, especially when it will be proven fact to add jobs and revenue for community. ? Keep an open mind, do research on facts, hear the pros and cons straight from the horses mouth, then decide. Yes the "facts are the facts" but let's face it, "the proposals are the proposals", not facts. Dreams, ideas, concepts, proposals, projections, etc., but none of them are facts. If I say to you that I want $5million for my dream project, why shoul I expect you to believe it will actually become profitable some day? I would bet that there are many "TIF Projects" that have left the municipalities holding the sack. What makes this dream any better? I'd rather see TIF, or whatever, help build a Tractor Supply.
|
|
|
Post by Venter on Feb 11, 2014 10:47:32 GMT -5
...The developer will be there... TIF will be explained and why it will in fact be a win win for all. So much negative thoughts on the TIF, yet the facts are the facts... ... I do not get why people are not all for growth, especially when it will be proven fact to add jobs and revenue for community. ? Keep an open mind, do research on facts, hear the pros and cons straight from the horses mouth, then decide. Ravensgirl, If you haven't been reading BoroVENT for the Past 7 years (since 2/25/2007), then you may not be aware of the concept of Our Forum, or many of the Controversies we've discussed. I truly believe that BV Members are VERY Open-Minded, and tend to Question anything - especially if it sounds too good to be true. At the end of any day, you may seem to be "Winning" a Conversation, only to find out tomorrow, that you've been "Countered". This Forum is, and has always been, a DIALOGUE! If everyone agreed with everyone else about ANY particular Issue, then there'd be no reason to have a discussion.It's like the Facebook Comments where someone Posts a new Photo of themselves, and everyone gushes about how "Beautiful" a certain person is. On BoroVENT, don't try that, because I guarantee that you won't always appreciate the Responses!
|
|
|
Post by ravensgirl21 on Feb 11, 2014 11:27:38 GMT -5
dave w..supreme poster : so your point is? I sure don't expect to win a conversation.I have been there done that too many times, and yes I was on BoroVent during the Mason Dixon quest.I am not expecting everyone to agree with anything. Typically the negative gets pushed while the positive struggles to open people's minds. It is easier to just say no than to roll your sleeves up and do the work. ALL I AM SAYING IS COME TO THE MEETING! The facts and figures regarding this development are available at the meeting. There is no way I can copy and post them on this site or Facebook. COME TO THE MEETING! Agree or disagree it is your choice! If anyone walks away still skeptical or opposes it, I respect your opinions. This sure is a "sales pitch" as pointed out to me. Yes, I am trying like H to sell the idea of growth and opportunity and moving our County forward. I don't think that is a bad thing does anyone? I stand firm, I do not get why anyone would oppose growth and opportunity! Call me a Pollyanna!
|
|
|
Post by ravensgirl21 on Feb 11, 2014 11:37:22 GMT -5
Egghunt...Dexter...Here is the Developer....Robert H Karen of Symphony Development Group. Google it up! Mr Karen has successfully developed over 20,000 homes. Right now on the Eastern Shore of Md is his latest project Symphony Homes. He is dedicated to quality built communities all across the United States with excellent track record. The opportunity to have him put in a development here is absolutely exciting. Adams County will benefit. There has been some news in the Evening Sun regarding his quest a few mos back. The proposed development has already been given approval and last hurdle is the TIF. What he has guaranteed is no one will be responsible for it but himself. COME TO THE MEETING! Feb 24th 7pm. MON. The Links at Gettysburg at the Clubhouse. www.robert karen symphonydevelopmentgroup.com Also www.Centerville Development by Symphony Homes This site allows you to see the ongoing homes this developer is building right on Eastern shore. Take a virtual tour and see the amenities!
|
|
|
Post by lifesaver on Feb 11, 2014 11:50:42 GMT -5
Second, let's assume that all of your points are valid (and I'm not doubting they are). So, to you the solution is to stick it to the developer and deny him/her the chance to build something that has the potential to have a positive effect on growth in Adams County. That's cutting off your nose to spite your face. I think you've got the right idea with Spread the Mustard and holding the commissioner's feet to the fire. Get to the root of the problem, if there is criminal wrongdoing expose it. To say the developer's been denied anything is like me asking you for money to make improvements on my property and saying that you're denying me of my right to improve my property if you don't give it to me. That's not what I said at all. Unless you see things in black and white.
|
|
|
Post by lifesaver on Feb 11, 2014 12:00:11 GMT -5
DaveW, Normally I would agree with you about a business paying for their own infrastructure but with the way the economy is, Businesses need an incentive to come here and build this is an incentive that does not hurt anyone. Would the Townships, School and County get more tax money if the businesses did it all on their own and payed their taxes without TIF, yes but with out the Developers getting the TFI there is no new business. Sadly though that is what the Straban Township Supervisors want but I'm sure if you would ask the regular citizens of Straban they would say that they want business If I was still a straban resident, I'd like to see some actual reduction in my own costs, and proof that it's going to occur. I haven't seen any proof of that, just talk that looks like cut and paste bullet point sales listing. It should be very easy to demonstrate numerically what the cost to provide township and county services to the residents will be and show that they will be paying more in taxes than they're using. I could ask my parents (who are still straban residents, and who will soon be forced to hook up to either water or sewer (can't remember which) and pay for their connection. I doubt they care about large housing plans - they'd probably be opposed. Different than Target, etc, that they would like to see show up locally. Have your parents checked into grant money available to help them with the costs of the hookup? My parents paid $0 for sewer hookup because they applied for a assistance.
|
|
davew
Poster Child
Posts: 308
|
Post by davew on Feb 11, 2014 13:32:16 GMT -5
dave w..supreme poster : so your point is? I sure don't expect to win a conversation.I have been there done that too many times, and yes I was on BoroVent during the Mason Dixon quest.I am not expecting everyone to agree with anything. Typically the negative gets pushed while the positive struggles to open people's minds. It is easier to just say no than to roll your sleeves up and do the work. ALL I AM SAYING IS COME TO THE MEETING! The facts and figures regarding this development are available at the meeting. There is no way I can copy and post them on this site or Facebook. COME TO THE MEETING! Agree or disagree it is your choice! If anyone walks away still skeptical or opposes it, I respect your opinions. This sure is a "sales pitch" as pointed out to me. Yes, I am trying like H to sell the idea of growth and opportunity and moving our County forward. I don't think that is a bad thing does anyone? I stand firm, I do not get why anyone would oppose growth and opportunity! Call me a Pollyanna! You're still in sell mode. You pretend to be responding and then this goes in: >>Yes, I am trying like H to sell the idea of growth and opportunity and moving our County forward.<< Do you think anyone ever selling anything that will cost current residents something is going to do anything other than use the same pie in the sky talk you're bringing up? I'm not at all opposed to the actual development. I'm opposed to the TIF financing. It creates winners and losers on the backs of someone else, and it does it with government along for the ride (and swinging the stick). The solution here is easy, bring actual facts, projected savings for taxpayers, disclose any possible side effects (long-time residents with no interest in selling seeing higher assessments in the future due to proximity), costs of infrastructure, incremental revenue above the cost of infrastructure vs. the ongoing service costs. It's not as if these numbers aren't calculated or at least estimated. Someone has to do that just to make a business case. So lay them out there and cut the "every comment is an opportunity to sell vague promises" mode. It just makes everyone suspect you're selling a bill of goods. By the way again, what's your bias? You didn't disclose how you are either employed by someone expecting to gain or how you're expecting to gain personally. My personal bias is none, I have no skin in any of it, but I sure do like truth and facts over one sided sales pitches.
|
|
davew
Poster Child
Posts: 308
|
Post by davew on Feb 11, 2014 14:08:00 GMT -5
If I was still a straban resident, I'd like to see some actual reduction in my own costs, and proof that it's going to occur. I haven't seen any proof of that, just talk that looks like cut and paste bullet point sales listing. It should be very easy to demonstrate numerically what the cost to provide township and county services to the residents will be and show that they will be paying more in taxes than they're using. I could ask my parents (who are still straban residents, and who will soon be forced to hook up to either water or sewer (can't remember which) and pay for their connection. I doubt they care about large housing plans - they'd probably be opposed. Different than Target, etc, that they would like to see show up locally. Have your parents checked into grant money available to help them with the costs of the hookup? My parents paid $0 for sewer hookup because they applied for a assistance. I doubt they have. If there's an income test, they won't qualify for anything, but I'm not sure how soon they have to hook up (thus they might not be aware of any grant money if there is any). They're about 200-300 feet off the road - not sure who bears the cost of running the line down, I guess they do. I don't know that my dad cares that much if he has to pay, just bringing it up as an example. FIL lives in a spot in a different township, and he'd like to sell some land off of his property. However, if he has two more residences along his road, the township is going to force public water and sewer hook up so his hands are tied. If someone else owned that land, they could just pigeonhole him right into it. I'd imagine my parents get their septic cleaned every couple of years (they are not high demand users) and they pay nothing but electricity for water. They will all of the sudden have two bills that probably will total $1000 a year or slightly under (about what I pay out here in the W. part of the state).
|
|
davew
Poster Child
Posts: 308
|
Post by davew on Feb 11, 2014 14:09:43 GMT -5
Please go to BoroVent Group page on Facebook.. There you will see TIF Funding explantion AND article by the Evening Sun regarding this Development Discovery Gettysburg. The explanations are clear. I do not have the tools to get on here and give you all the details one by one. However, I am showing you how to do the research. The meeting on Feb 24th will be the only way your questions will all be answered , hopefully.... I do not pretend to answer your query. I believe I have answered them as best as I can with the limited authority I have. This is not my project. It is however one that I am, and growing numbers of many, 100% on board with after seeing for myself, speaking to developers and hearing all the pros and cons. so, are you saying you have no bias. You are not employed by anyone expected to work on it and don't expect any financial gain from it (with the possible exception of being a local business owner who might get foot traffic)? I'll look at the Evening sun article. I probably understand a little more about TIF financing than you think. To pain it as an always win-win situation would be deleterious at best. Intentionally misleading at worst.
|
|
davew
Poster Child
Posts: 308
|
Post by davew on Feb 11, 2014 14:16:06 GMT -5
So, $60 million of infrastructure just given to the developer on a $680 million project with a 28-year term on the bond and at least initially, 65% of the tax revenue generated from the development will be used just to pay the bond. It's almost as if they're being allowed to use 2/3rds of their own property taxes just to pay for things for themselves.
And you wonder why anyone should think the development should pay more or all of their own share?
I wish someone else would've paid for almost 10% of my house.
|
|
|
Post by dcaddy on Feb 11, 2014 14:21:10 GMT -5
|
|