UPDATE: TIF History Presentation

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FF 1:38:15 – To watch my RANT on TIFs

There will be a presentation at the Sioux Falls City Council informational meeting at 4 PM on TIF History in Sioux Falls (DOC: TIF-History-SF )

You will notice that the mention of blighted property or affordable workforce housing isn’t even mentioned anymore (the original reason TIFs were used). Know they are being used for Market Rate housing, retail and even multi-million dollar condos at Washington Square.

While I do understand the increased value AFTER the TIF’s mature, some of them won’t mature for another 10-14 years.

We really need to get back to the original purpose of TIF’s or stop granting them. I think developers do very well in Sioux Falls, which is awesome, we certainly don’t need to subsidize developers with property tax rebates especially when we are talking out bonds for jails, schools and water plants. It’s very fiscally irresponsible for us to be handing out property tax rebates to wealthy developers when we are taking out over a HALF-BILLION in bonds.

UPDATE: Sioux Falls City Council to Dissolve TWO TIF’s on Tuesday

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UPDATE: It seems they are moving forward with a ‘Market Rate’ apartment project and this is why the TIF is being dissolved. Funny how a TIF is now not needed since they are going to build apartments that they can charge whatever for rent. Further proof all TIFs are is developer welfare.

Many people have been asking about a supposed project North of Sunshine Grocery Downtown that received a TIF and why it hasn’t proceeded.

It seems that TenHaken administration is taking action by asking through resolution to have the council dissolve that TIF and the TIF that COSTCO never accepted. As I understand it, Norm Drake from Legacy is somehow involved with the Downtown TIF (part of it is where the current temporary dog park is located) and COSTCO opposed their TIF from the beginning because they don’t like how TIFs take from public education funding.

As I have been saying about the $190 million dollar bond issue, why are we borrowing so much on the backs of homeowners while wealthy developers are getting tax rebates? Just another reason why the Bond issue AND TIFs are flawed.

Council Agenda Items #46-47

Details Below;

Anti-Citizen (Municipal) League continues to lobby against our best interests

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The taxpayer funded legislative lobbyist Muni-League decided to rear their head again with the city council’s supposed ‘legislative’ priorities (Item #15). But some councilors weren’t buying it. Stehly had an issue with TIFs, some wondered how the county’s priorities got mixed in with it, and councilor Brekke was curious when they even talked about it.

The rumor going around is that a couple of councilors met with Minnehaha County Chair, Heiberger and cooked this up with the help of the Muni-League.

And let’s talk about them. We pay them to lobby for higher taxes (they continually try to sucker the legislature into letting cities raise an extra penny tax for ‘special projects’ with a sunset clause. NO taxes ever ‘sunset’. Once implemented, they are there forever. Look at the 3rd penny entertainment tax in SF for paying off Pavilion bonds. That tax was supposed to sunset after the bonds were paid off. That was 4-5 years ago. Still exists. They also support TIF’s which are nothing more than a tax rebate/welfare program for developers. Most times they have little to NO economic impact except raising property taxes on the rest of us.

It’s time the city cuts ties with the Muni-League. The Sioux Falls city council already has a legislative director/operations manager that makes close to $100K a year. The council praises his hard work, and he is very capable of lobbying for the city. As taxpayers we don’t need to pay another lobbyist to lobby against our interests.

State’s report on TIFs lacks ‘economic impact’ data

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Maybe it isn’t in the report, because there is very little economic impact from TIFs, they NEVER pay for themselves in JOBS created and take money from school funding, something we need in SF instead of bonding.

As you can see from the Sioux Falls TIFs a lot tax rebates with little evidence of a benefit to the public; 2017TIFAnnualReport-SF

Here is the entire statewide report; 2017TIFAnnualReport

As you can see, a lot of property tax revenue being given to wealthy developers in the guise of ‘economic development’. If TIF’s truly worked, why not give them to EVERY developer? It’s a sad day when the school district has to have a bond vote when they could easily pay down the bonds with property tax revenue that wasn’t tied up into TIFs.

Follow the Money; TenHaken & Soehl’s donor lists tells us who they will serve

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Some of the Biggest Banksters and developers in Sioux Falls have thrown thousand$ at Paul and Curt.

PTH: TENHAKEN-Donor

CS: SOEHL-Donor

I always find it ironic when I hear certain candidates tell us what they will do for ‘US’ than read their donor list that tell us a different story.

The other night in the final mayoral debate, TenHaken made the comment that he felt we haven’t used TIF’s enough. I just about fell out of my chair. With 5 years of record building permits, why is it that we continue to handout corporate welfare to the developers? They are NOT hurting, just look at the money they threw at these two candidates.

We need to focus on bringing customer service back to ALL the citizens in Sioux Falls, not just the super wealthy. Council Candidate Zach DeBoer has proposed numerous initiatives that would lift up neighborhoods and support more affordable housing in Sioux Falls. Paul and Curt have proposed we stay the course with corporate welfare and TIF’s.

Some say the decision on Tuesday is a hard one. Just look at these donor lists, it will make your decision a lot easier.