Towards the end of the meeting I got to touch on TIFs and ‘Recommended Approval’ by Planning Staff. I appreciated Planning Commissioners Larry and Sean actually asking staff about some of the things I brought up. Thank You.
Towards the end of the meeting I got to touch on TIFs and ‘Recommended Approval’ by Planning Staff. I appreciated Planning Commissioners Larry and Sean actually asking staff about some of the things I brought up. Thank You.
You were heard and acknowledged. This is something new. Perhaps once every 10 years or so a citizen can get a voice in city government.
The city did cooperate with me recently in getting a STOP sign in my neighborhood, however. Now, if only I could get them to stop TIFS.
( and Woodstock adds: “Or, at least YIELD to look for true blight”… )
You do not want to stop TIFS, that would put more reliance on cities and school districts and counties to borrow more from bond holders, where we pay them 5% interest payments.
TIFS are not a subsidy, ‘we’ are asking the land owner to build roads, water-sewer pipes, utilities, infrastructure, all of which then help all citizens to build houses, businesses, and other structures.
I am wishing to lobby to redevelop the top of the BLUFF overlooking Sioux Falls to become Pioneer Monument Park and Nature Area, build a nice City Tourist, Viewing, Museum, Viewing Platform, let alone rename a public street, while also cleaning up, redevloping the entire area to make it better – better housing, commercial area, etc. And my #1 source of financing – TIFS, then using Motor Vehicle Funds, and Sales Tax.
I call it “ABOVE THE FALLS DEVELOPMENT”
“You do not want to stop TIFS, that would put more reliance on cities and school districts and counties to borrow more from bond holders, where we pay them 5% interest payments.”
What?
There’s no need for the development of infrastructure if the businesses are not there. Who said it was a subsidy?
If businesses want to develop, then their property taxes should pay for the new infrastructure through special tax assessments. With TIFS, the normal property assessments are used to pay for upgrades or development, when those realities should be paid by special assessments. Plus, TIFS or not, these businesses would still show up to build in almost every case.
The only reason TIFS exist is so that the assumed candy from the city is readily available as an enticement, so that the city can have a seat at the table and a say in the development of private properties.