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Let's assume the TIF is in place

(3 posts)
  • Started 5 years ago by ChrisHajer
  • Latest reply from corbi328

  1. ChrisHajer
    Member

    What does the EDC do now? Is it like blood in the water and the sharks (developers) come circling? Does the EDC start courting developers, letting them know we can share the wealth in the future if they will tackle projects in our town? Cold calls to retailers, direct mail? Is there a registry of development-friendly communities with TIF? Assuming the TIF is in place, what would the EDC do differently?

    Assuming EAV does not go up until there are improvements, and thus there is no increment to share, on day one, or at the end of year one or five, how does the EDC approach their job differently?

    Posted Friday Feb 2, 2007 08:57 #

  2. Tim
    Member

    A TIF would only be as effective as:

    1. The Plan it was based on.
    2. The Document that defines how the TIF impacts and is impacted by the Plan...ie the rules of the game.
    3. The individuals/groups empowered by the TIF Document to oversee its activities.

    The options for the EDC are:

    A. EDC continues devotiong its collective energies towards achieving fiscal nirvana with the current proposed TIF Document.
    B. EDC considers a revised TIF Document that addresses residential concerns in a more sensitive manner, with appropriate checks and balances for TIF oversight.
    C. EDC engages the economic re-development of Riverside without a TIF utilizing alternative means and resources/incentives to achieve re-development goals.

    There are too many factors in play for any one person to say that any one of these options would be overwhelmingly successful over the others to achieve the goals of the EDC. This is where the debate arises and community input is essential.

    Another important point to be made is that this debate/discussion isn't about what is best for the EDC...it is about what is best for RIVERSIDE...not RIVER$IDE...

    Posted Friday Feb 2, 2007 09:59 #

  3. corbi328
    Member

    Tim,

    I think all of this discussion presumes that the EDC has way more authority than what we actually have. The EDC is an advisory Commission that assists the Village Board with matters that pertain to Economic Development in town. We have no budget and no executive authority. That being said, we do have opinions and we have expressed ours as it pertains to a TIF in Riverside. Please take some time to read the EDC resolution that was passed in January of this year.

    http://tinyurl.com/2dkk3m

    It outlines our support for the TIF subject to certain recommended changes. These recommendations address the most significant concerns about the TIF that were shared by the majority of Riverside residents. After reading our resolution and letter, I think you'll find that the EDC has already taken the path outlined in option B of your post.

    Posted Friday Feb 2, 2007 10:21 #

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