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TIFs hidden costs

(122 posts)
  • Started 5 years ago by HollyMachina
  • Latest reply from MikeTomecek
  1. Elisa
    Member

    In reviewing comments from this thread from long ago, I was struck with a few things. Way back in January, there was a lot of speculation from pro-TIF people and people who were willing to support a limited TIF that once certain issues were taken care of, the TIF would be readily acceptable to most residents.

    Some assumptions that were made:

    1. The schools would be made whole, (or would have a deal or at least meetings with the Board). To my knowledge, that has not happened.

    2. There was also the assumption that the "numbers" would be forthcoming with regards to the schools. To my knowledge, that has not happened.

    3. The issue of the parking garage and eminant domain was not really a concern. The comments ranged from "the board has no intention of ever doing that" to "don't worry, there is a way to take ED off the table". To my knowledge, the board has made no comments in public to back off of that issue. [Edit: Ms. Rush's comment: "I recall that I was explaining that a Parking Structure would be an unlikely choice to have happen as the Board knows that it would not be acceptable to the community...the Board is —˜educated' about the community (in this context, I meant that they are aware that this would be a really difficult decision and would be the absolute last resort to address the parking situation). The discussion was to underscore the unlikelihood that any parking structure would ever be built in Riverside." If this is the case, then why don't they draft words to that effect in the TIF proposal?]

    4. There was qualified support from the EDC for a TIF that was "pay as you go". I have seen "pay as you go" dropped from the Village's conversation lately. Why is that?

    I have to wonder if the people who were supportive of a limited or qualified TIF are still in support when it appears as if the limits or qualifiers are not going to happen. If so, how?

    Posted Friday Apr 13, 2007 14:38 #
  2. MikeT
    Member

    Yes, I do recall moderate people saying that they would not vote for this TIF initiative as it sits now, and I have not seen any indication or expression of a will to change it by the Board.

    The only thing I have heard from the board is such things as:

    "I have not heard anything over these last several months that would change my mind on the TIF."

    I also have seen, ominously, that they want to make a decision before the EAV numbers spoil and they would have to be forced to re-do the TIF.

    That is what I meant to get across in the 'Funny thing happened to me on the way to the forum" thread, with the notion of the Board feeling that they are 'pot committed' + - poker talk for a feeling that they have so much invested already, that they should not fold now.

    I am not a poker player. I got that characterization from a poker player who is watching this. But in my 25 years in the corporate world for a fortune 500 insurance company, I have seen many a time where the business owners of a new system being developed turn back after doing a CBA (cost benefit analysis) to go forward or not to go forward.

    The CBAs (plural) are done along the way, and not just at the start of the process. As new info / detail is discovered, new costs are also seen that might tip the decision.

    On the parking structure, for example, I hope they have gleaned that it is going to be ALOT more expensive - time, money, effort, energy, town character, public support and more - than the Camiros, URS or Bausch and Laumb told them.

    I have learned a lot about local village government during these last few months. I respect the time and effort that the Trustees are putting into the process. They seem to me to be doing their level best. But they should know that policy and ideas and plans are dynamic and need to be revisited rationally as new data is revealed.

    So the 'pot committed' idea is not a good rationale to proceed in this context. It is sending good money after bad.

    .
    + warning: color images
    http://www.riversideinfo.org/forum/topic.php?id=297&page&replies=21#post-4578

    Posted Saturday Apr 14, 2007 00:20 #

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