With the latest news that another developer is trying to roll the city with a massive TIF, now is the time for a comprehensive TIF study. But this study can’t come from the city or from private developers. The study needs to be conducted by one of our Public Universities as a student research project. Anything the city or a private developer will produce will be fudged. Remember the siding report that mysteriously disappeared? Or the 2nd one that was edited by public works?
The study needs to determine if there has been an actual economic impact in job growth, personal wealth, ect. Over the past decade (especially since the 2008 recession) while development growth has been record breaking, we also have to realize that crime has increased, taxes and fees have gone up at record rates, housing has gotten more expensive, wages have remained stagnant and food banks and kitchens are expanding more and more.
If TIFs have helped anybody, it has certainly been the developers bottom line, because like Reaganomics it certainly hasn’t trickled down to shrinking middle class.
We need to see a study and it needs to be independent.