physicallyatherapist t1_j7253xc wrote
rockybalBOHa t1_j7280al wrote
I can't access the substack article.
I agree with the commentary in The Sun, but the solution isn't to do away with TIFs, it's to lower the property tax rate so TIFs aren't required. I agree with that wholeheartedly. The tax rate is prohibitive to development.
But my point still stands - the City isn't "footing the bill". In theory they would if there was a default, but that hasn't happened. The TIFs have worked as planned, at least in a strict financial sense.
gaiusjuliusweezer t1_j750a5f wrote
The development process, as a whole, is a tax. Time has monetary value, as do interest payments on bank loans.
We should make that simpler along with the zoning code, but the neighborhood associations typically object to one thing or another, which, on its own wouldn't kill reform, but combined prevent a councilmanic majority from forming.
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