Anyone care to comment on what they saw and heard?
Riverside Info » About Riverside
Workshop FOUR - Round One
(42 posts)-
Posted Saturday Feb 24, 2007 13:54 #
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Very interesting. I liked Chris Robling's comments. His statements that there needs to be more planning before undertaking something like this is essential. Only after that groundwork is laid out will it be fair to decide whether we need a TIF or not. And during that time, we have a chance to see what happens with the CBD. If businesses are moving in during that time, and if development is occurring, then maybe a TIF is not the way to go. But, also having a clear and comprehensive plan would be necessary for us anyway.
It is also worth - in my opinion - having the Board take a look at making a TIF district on Harlem. It would not be contiguous with the one they are planning now. Maybe they should look into the possibility of setting one up on Harlem and leaving the CBD alone for now. (I know this isn't my original thought - but it bears repeating!)
Posted Saturday Feb 24, 2007 14:07 # -
Of interest to me was the comment by the consultant that a commercial property owner may wish to have eminent domain proceedings commenced against them for tax purposes before they sell. Someone elsewhere and later in the morning observed to me that this might well apply to Mr Kafka, that he could actually be looking for this and hence favor the TIF. Of course, one cannot know.
I couldn't stand hearing the Q&A after the consultant turn into an EDC blowhard session, so I will be looking here in order to deduce what happened after.
Posted Saturday Feb 24, 2007 14:44 # -
All I know is that I hope (if the TIF is enacted anyway) that any money raised would not go to incentives for that landlord nor toward a lawsuit against him. Joe P.'s comment about money being used to get the property(s) by eminent domain and then using TIF money to entice a potential owner was an interesting thought. Did I understand correctly: The Village could use ED, buy the building(s), and then sell them (while offering incentives) to a "good" buyer?
Posted Saturday Feb 24, 2007 15:03 # -
Elisa,
You absolutely heard him right.
Posted Saturday Feb 24, 2007 15:08 # -
Right Elisa, this is called stealing. First the government assesses the property at a low value, eminent domains it, then sells it for a profit which it pockets, instead of allowing the property owner to sell to the developer directly for that profit. I can promise you that this plan will give rise to mucho legal fees and will not happen, at least to me.
I talked with a woman before the meeting this morning who said she wanted her property ED'd because it had a market value of $400,000. I told her to call the village and have them assess, and then get back to me and tell me if it came back at $400,000. If not, she had better start looking for a private developer to sell to. Residents care just as much about who they sell to as the Board does. Judging from the allowance of the VC, I'd say more.
Of course Kafka would get TIF incentives on his properties if he did not sell them.
Posted Saturday Feb 24, 2007 15:17 # -
This latest - and apparently greatest - use for mythical TIF funds - the baiting and buying-out of our major "stakeholder" looks to me like a guarantee of full-rate employment and lifetime occupation for our attorneys - and maybe his too. I was surprised to learn from one of our Trustees that we have done so well in court against him. I thought I read we decided to proceed against him for the latest instance and I'm pretty sure he stiffed us for his water bill and sailed unscathed too. The EDC was charged with approaching him to see what his position was and perhaps Corbi can inform us of what, if anything, has been done. I hope it won't result in some taxpayer backed inducements at another odd-hour meeting. You can bet that he will want to be paid for a (potential) four story structure at Longcommon and Burlington and not a two as it now appears. Actually, since his buildings seem to constantly attract new tenants - Corbi was bragging just the other day about a Jewelry shop that went in - and there are a lot of people - including some CBD business owners - that live there, I can't see what grounds the Village could possibly conjure that would allow them to take those buildings. After all, the Village allows those businesses to operate under present conditions, and declined to sue over the broken pipe fiasco that drove Kay Snyder (sp?) out, so this more hot air in the never ending quest to justify this worthless strategy.
Posted Saturday Feb 24, 2007 15:31 # -
I was told by someone in a fair position to know that he is not making any money off his buildings now (bad tenants, no commercial tenants, expenses, etc.) and is motivated to sell. Don't know whether it's true. I do NOT think it is true that he has ever been bested by the village. He did get a large settlement on his water bill. In any event, he is not stupid and will get full value for money, as everyone in the TIF area who has half a brain is prepared to do.
Posted Saturday Feb 24, 2007 15:38 # -
"What is the cost of the TIF to the schools...and subsequently to us, the taxpayers?"
It was asked again, today, of Kane & McKenna, and unfortunately this appears to be an uncomfortable topic to disclose to the public.
Before they began, I had asked if the panelists in Workshop 3 could tackle this question ...Diane said they could not...she actually asked me to do it, which is strange, for if I already knew the answer why would I ask the question?
Their stunned silence is very reassuring...
Posted Saturday Feb 24, 2007 16:43 # -
Tim - it appears that you are misrepresenting the discussion. I believe a slide was up on the screen for 15 minutes showing the estimated year 1 loss to District 96 was roughly $14,000. I then heard Mr. McKenna say that the District 96 School Board had requested some financial scenarios to review and that they had provided some to the School District. I then heard the District 96 representative say that they were not interested in discussing the info until they had their arms around it.
I trust the School Board and Superintendent to do their jobs and remind that the EDC's support of the Redevelopment Plan was conditioned on it not harming the schools.
Posted Saturday Feb 24, 2007 16:59 #
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