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Forum nameGeneral Discussion
Topic subjectBut once that money's gone, that money's gone...
Topic URLhttp://board.okayplayer.com/okp.php?az=show_topic&forum=4&topic_id=12753448&mesg_id=12753946
12753946, But once that money's gone, that money's gone...
Posted by CRichMonkey, Tue Mar-17-15 11:54 AM
It's just another form of kicking the can down the road akin to selling parts of your car to get gas money.

If we know that revenues are needed in any long term fix, why not use TIF money to drive projects that will create long term dividends? That's a progressive and pro-growth strategy that says we can build up the city and that will generate the floor for revenues based on usage fees of these new facilities (see: taxes, etc.). It's not as directly or unfairly redistributive, which is another knock on Chuy that I could go on for days about, and it encourages people to come to the city.

Otherwise, we'll find ourselves paying down the debt in December and then still scraping the bottom of the bucket to get the other 70% in subsequent years. And that will lead to a spike in property taxes and, without reasonably amenities to justify the hikes, folks are going to be reluctant to move into the city. That's great for Evanston, Oak Park, and Cicero, but that's bad for Chicago.

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