Monday, September 17, 2012

TIF Fact #6 -- 5 of 6 TIFs Comprising the Consolidated Downtown TIF Have Seen Their Base Driven to Zero Value

I sent the following email message to all City-County Councillors, select media representatives, and Senator Luke Kenley.
Even the much touted consolidated downtown TIF has seen the base of 5 of the 6 component districts driven to zero value (there is also one new TIF district that does not have a track record and therefore is not included here).
Take home lesson - even when a district pulls a $10 or $20 million 'profit' every year, the base is not restored.
Have you asked for any protection of the base of the proposed expansion of the downtown TIF?
The Council should demand full disclosure before Prop 15 or any other TIFs are considered.  Otherwise you won't know what you are voting on.

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