Councillor Brian Mahern, who conceived of and served on the TIF Study Commission, was McANA's guest speaker this morning. He did an absolutely masterful job of conveying, in plain English, the breadth and depth of the Commission's work - from what a TIF district is, to what policy recommendations the Commission made for its establishment and operation. Throughout the lengthy question and answer period, he folded in the rational for the Commission's recommendations along with how TIFs currently operate. Not once did he get into the weeds - and this topic lends itself to getting mired in complicated details.
If you don't have the time, energy, or overwhelming interest in TIFs to watch all 24 hours of archived WCTY broadcasts of the TIF Study Commission meetings, or the time, energy, or overwhelming interest to read all 96 pages of their report plus all appendices - then the WCTY broadcast of this meeting may be just the perfect morsel that can bring you up to speed on the topic (forgive my mixed metaphors).
WCTY will begin showing the McANA meeting early this week - from past patterns begin looking for it on Tuesday.
Today's McANA meeting clearly demonstrates the public interest in TIFs and how the public wants them to operate within Indianapolis. Remember, TIFs consume your tax dollars, so you owe it to yourself to become somewhat conversant about the topic, as well as making your opinions known as the policy recommendations move toward adopted and implemented policy practices.
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Resistance And The Environment
13 hours ago
10 comments:
It was the official kick off for his Mayors campaign..
And, Anon, if it's Mahern v. McQuillen, I know plenty of Republicans who won't vote for McQuillen because of his support for corporate welfare.
It was substantive and important. The future will take care of itself.
Mahern didn't understand TIF during the commission meetings, and he still doesn't. If MCANA wants to hold political rallies, at least call them that.
Apparently Anon 9:07, thinks the purpose of the TIF is to act as the Mayor's slush fund so the dollars can be handed out to subsidize his political contributors who can't get the private sector to fund their projects. As far as MCANA goes, the misuse of the TIF is a bipartisan issue.
Tax Increment Financing is a public financing method that is used for subsidizing redevelopment, infrastructure, and other community-improvement projects. In Indianpolis have capture politcans to spend our tax dollars for private interest and give revenue (bonds) to governement which support TIF. When the cost of basic services increases, with TIF in place, the result is a revenue shortfall that has to be paid from sources other than tax revenues of the TIF district. TIF use future gains in taxes to subsidize improvements, which are projected to create the conditions for said gains for those that want gov't to back thier losses. The completion of a public project often results in an increase in the value of surrounding real estate, which generates additional tax revenue for those who invested in private business at the expense of public services Sales-tax revenue increase, and jobs may be added, although these factors and their multipliers usually do not influence the structure of TIF. When an increase in site value and private investment generates an increase in tax revenues, it is the "tax increment." TIF creates funding for private projects by borrowing against the future increase in these property-tax revenues. Mayors love Tiff because revenue is generated for other things other than i.e. public school which they do not control.
Sure, Anon 9:29 am., the Democrats should run another insider who loves corporate welfare and won't challenge the Mayor on all the giveaways of our tax dollars. That worked so well last time.
Anon 9:07 - you are completely wrong. Mahern is entirely on top of the issues revolving around TIF districts.
Anon 9:07 - I go away for one day and crap like this gets written. I am deleting it right now.
Anon 9:07 - an open invitation to all who served on the Commission was made. If the Mayor and his staff choose not to interact with the public, that is their choice. McANA never has been and never will be partisan.
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