Skip to main content

View Diary: Chicago schools lay off 2,100 while city puts $55 million into college basketball arena (67 comments)

Comment Preferences

  •  My understanding of TIF's: (1+ / 0-)
    Recommended by:
    JerryNA

    The tax money going to the general fund would be frozen at this years level. Any increase in assessed value is deemed the result of the improvements and is used to reinvest in the Urban Renewal area.  Portland has about six urban renewal areas. Some are 40 years old. That means that the UR zone is providing in revenue to the general fund the same amount as it did in 1975. Meanwhile the improvements mean more people who need more services making more stress for the general fund.

    Portland Mayor Charlies Hales something of an austerian with $16 million in cuts this year seems to be phasing out TIF's, UR zones and the Portland Development Commission. His election website estimated that TIF's deprived the the general fund of $30 million a year.

    Yes TIF's lead to some whacked priorities. On the eastside
    which Portland annexed in the 1990's pedestrians including children are killed on a regular basis due to lack of sidewalks, which at first the mayor said there wasn't enough money in the general fund to correct. Meanwhile in the South Waterfront Urban Renewal zone Oregon Health Sciences University got an  $20 million "aerial tram" leading up to one of its buildings in the West Hills.

    "...on the (catch a) human network. Cisco."

    by hoplite9 on Sat Jul 20, 2013 at 02:20:27 AM PDT

    [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site