tag:blogger.com,1999:blog-1826828000189814347.post5542297998927576996..comments2023-09-02T12:29:45.592-04:00Comments on Had Enough Indy ?: Excellent !Had Enough Indy?http://www.blogger.com/profile/09673791504434523246noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-1826828000189814347.post-17249669294820494072011-07-25T12:31:11.899-04:002011-07-25T12:31:11.899-04:00Definitely about time for some community dialogue....Definitely about time for some community dialogue. A Step in the right direction!Central Indiana Jobs with Justicehttp://www.centralindianajwj.orgnoreply@blogger.comtag:blogger.com,1999:blog-1826828000189814347.post-75229555442575881822011-07-23T20:15:44.848-04:002011-07-23T20:15:44.848-04:00Pat, I meant normal appropriation "process&qu...Pat, I meant normal appropriation "process", not "rate." I think you figured that out.Paul K. Ogdenhttps://www.blogger.com/profile/16137003328850866711noreply@blogger.comtag:blogger.com,1999:blog-1826828000189814347.post-87226383360654794002011-07-23T13:28:03.645-04:002011-07-23T13:28:03.645-04:00Paul - I am assuming nothing here. The devil is a...Paul - I am assuming nothing here. The devil is always in the details. But, I think a community conversation is appropriate and about time.<br /><br />I don't know what tension might exist between the Council and the Ballard administration. Deron Kintner, executive director of the bond bank, had some wishy washy statements about having enough cash sitting in the TIF districts to get better interest rates on bonds. He clearly did not endorse sending money back to the other taxing units.<br /><br />And, I don't know if the MDC answers to the Council and if the Council has authority to pass an ordinance dictating what the administration and MDC can and cannot do. The Council can always vote down all bonds that come through until others see things their way. But, again, they could all be on the same page now - the article didn't really mention that.<br /><br />More to come. But, at least the door has been opened.Had Enough Indy?https://www.blogger.com/profile/09673791504434523246noreply@blogger.comtag:blogger.com,1999:blog-1826828000189814347.post-63393849997767231752011-07-23T13:22:14.337-04:002011-07-23T13:22:14.337-04:00Gary - The City could always return money to the b...Gary - The City could always return money to the base by raising the value of the base or paying off the bonds early. They just didn't want to discuss options in case it derailed the plans they were pushing at the moment.<br /><br />The article mentions a couple of items that might be getting some discussion - 10 to 20 year bonds depending upon the project, returning excess funds to the base, capping the amount of excess funds that can be generated before money MUST be returned to the base, and more.<br /><br />I'm with you - let's do better with the money from TIFs and decide as a community what is best for us - not the fat cats.Had Enough Indy?https://www.blogger.com/profile/09673791504434523246noreply@blogger.comtag:blogger.com,1999:blog-1826828000189814347.post-59723451630810006112011-07-23T10:54:35.295-04:002011-07-23T10:54:35.295-04:00Pat,
Aren't you assuming that this TIF money ...Pat,<br /><br />Aren't you assuming that this TIF money is going to be dumped back in the big revenue pot and the normal appropriation rate followed? Isn't it possible they'll spend the TIF money directly bypassing the council?Paul K. Ogdenhttps://www.blogger.com/profile/16137003328850866711noreply@blogger.comtag:blogger.com,1999:blog-1826828000189814347.post-88541716291953570222011-07-23T10:27:57.064-04:002011-07-23T10:27:57.064-04:00So what happened to all of the legal expert opinio...So what happened to all of the legal expert opinions that kept telling us the City's hands were tied on how those TIF funds could be used? I think they're only changing their tune now because they're desparate to avoid raising taxes in an election year. Still, it's better than letting the funds sit there and be accessed by the mayor on demand as a slush fund to provide kickbacks to his campaign contributors for their preferred development projects.Gary R. Welshhttps://www.blogger.com/profile/15185079937305083438noreply@blogger.com