Erica Beck from Lloyd Companies with taxpayer compensated Dustin Powers (filled in for Brent) from the City of Sioux Falls did a presentation today to the Minnehaha County Commission about the proposed $4.4 million dollar TIF. (FF to 46:00)
Lloyd Companies is saying they need the TIF for cleanup. But, that is kind of a stretch. Whether they need to clean up contaminated soil OR not, they still have to dig a hole for a parking garage. Instead of the TIF for cleanup, I have suggested FREE tipping fees for the project – the entire project. This wouldn’t cost the taxpayers much and we would still be able to receive full property taxes (approximately $450,000 a year) instead of $8,000 a year for approximately the next 13 years (Life of TIF).
My other suggestion would be for the city to actually contract the removal of the contaminated soil before turning over the land. There would probably be some Federal EPA grants to do this.
Lloyd Companies is maintaining they NEED this TIF to do the project. I find this a little hard to swallow.
Not only did the County Commission NOT object to the project and TIF, commissioner Dean Karsky had to inform the public that Lloyd Companies are the largest property tax payer in the county. I’m not even sure how this equates to being able to get a tax discount. What this tells me is that they have attained an enormous amount of wealth and property, and can certainly float this $44 million dollar project without this corporate welfare. It’s like saying Bill Gates deserves to eat a free meal at the Banquet everyday because he has attained so much wealth.
Once again Karsky defends who butters his bread, the Chamber and their esteemed members.