Posted: Sun Feb 17, 2008 8:48 pm
Thanks Matt for an excellent description.
Regarding abatements. Steve, you may remember with the West End situation that because the abatement (TIF) affected a significant amount of funding for the Schools, the City reached an agreement with the schools to make up a portion of their loss through the city income tax revenues. I'm assuming that when the TIF or abatement is significant - the school board members, PTA and citizens would lobby the city council and mayor to make some sort of accomodation.
Which brings me to my question. There is a large TIF outstanding on the Cliff's project I believe - nothing near the size of the West End. I know that they are using fair size area to pay for it - but I'm not sure how many years. I'm assuming that it hasn't been given yet because the project is delayed. Was there any agreement to assist the schools with this? And will this further compound the revenue situation facing the city.
Thanks
Regarding abatements. Steve, you may remember with the West End situation that because the abatement (TIF) affected a significant amount of funding for the Schools, the City reached an agreement with the schools to make up a portion of their loss through the city income tax revenues. I'm assuming that when the TIF or abatement is significant - the school board members, PTA and citizens would lobby the city council and mayor to make some sort of accomodation.
Which brings me to my question. There is a large TIF outstanding on the Cliff's project I believe - nothing near the size of the West End. I know that they are using fair size area to pay for it - but I'm not sure how many years. I'm assuming that it hasn't been given yet because the project is delayed. Was there any agreement to assist the schools with this? And will this further compound the revenue situation facing the city.
Thanks