Ammendment One

[kellyc]

So any thoughts on this resolution for Thursday night?

http://www.nclm.org/A1%20Center%20Page%20News/amendmentone.htm ?

Kelly

[dhyatt]

I think it's a bad idea for Cary to get involved with this. There is nothing to be gained by passing a resolution of support and I'm sort of surprised it's even being allowed on the agenda. It should have been buried.

The problem with the whole TIF movement is that it reduces public visibility of expensive tax-payer subsidized remodeling projects. Some such projects may wind up generating net positive tax revenue but many do not and the taxpayers are left holding the proverbial bag. I find it quite entertaining that the CTC members screaming the loudest about 'public involvement' happen to be the ones that are doing the pushing of the TIF support resolution. It feels very much like 'let's ask the public unless it's inconvenient, then we need a way to spend the money anyway...' The fact that 48 other states already have this type of legislation doesn't necessarily make it a good thing.

Maybe it's just me but I sense NC's current annexation law, coupled with TIF legislation, could be a very dangerous combination...

[kellyc]

My concern is that while I trust this particular council with my money, look how drastically things changed with the last election. Where will we be in 2 years from now? My crystal ball is still broken and I cant forsee the future.

Also this ammendment is for the entire state...what happens if Lumberton or Durham takes advantage of this and fails, who gets to pick up the tab.

Kelly

[Wuptdo]

Why do they (government officials) even bother. If Raleigh can get a new $200 million dollar plus convention center without voter approval, why do we even need this bill at all? They have already found one loop hole for public financing of private projects, why do we need another? Why don't they give us something important to vote on like the "Marriage Amendment Act" or a statewide "Lottery?"

This just in - I guess it did make it on the agenda.

http://www.townofcary.org/agenda/bondres.htm



Wuptdo B-)

[Cathy]

I think it's a bad idea for Cary to get involved with this. There is nothing to be gained by passing a resolution of support and I'm sort of surprised it's even being allowed on the agenda. It should have been buried.

The problem with the whole TIF movement is that it reduces public visibility of expensive tax-payer subsidized remodeling projects. Some such projects may wind up generating net positive tax revenue but many do not and the taxpayers are left holding the proverbial bag. I find it quite entertaining that the CTC members screaming the loudest about 'public involvement' happen to be the ones that are doing the pushing of the TIF support resolution. It feels very much like 'let's ask the public unless it's inconvenient, then we need a way to spend the money anyway...' The fact that 48 other states already have this type of legislation doesn't necessarily make it a good thing.

Maybe it's just me but I sense NC's current annexation law, coupled with TIF legislation, could be a very dangerous combination...

You are absolutely correct Don!
And as soon as the politicians can get TIF approval, the Town Center area will become a "redevelopment project" that will bring with it all of the fun & games of eminent domain condemnations of those pesky "non-conforming uses"!! http://www.redevelopment.com/
Here comes the bulldozer Don!

http://www.redevelopment.com/norby/ch03-ia.gif

I did a web search on TIF in other States, and after you wade through the "OH JOY!" government connected websites, you can find many articles and commentaries on the problems that this type of financing has brought to many of those "ahead of NC" States.

Cathy

[Cathy]

My concern is that while I trust this particular council with my money, look how drastically things changed with the last election. Where will we be in 2 years from now? My crystal ball is still broken and I cant forsee the future.

Also this ammendment is for the entire state...what happens if Lumberton or Durham takes advantage of this and fails, who gets to pick up the tab.

Kelly

When every area starts using this financing, NO ONE wins.

Cathy