Aug

27

Star sets its sights on TIF

August 27, 2007 |

Only about five years after the fact, The Star is finally calling bullshit on TIF abuses and doing the sort of due diligence it neglected to do throughout the Barnes administration.  A few of the interesting nuggets…

  • KC has granted six times more TIF subsidies than any other city in the country, up to $3 billion.
  • While designed to combat blight, since 2005 the city has sent $90 million in TIF subsidies to the posh Northland and only $100,000 to the East Side.
  • TIF projects have produced less than half of the net new jobs promised, often because TIF just moves businesses around inside the city limits instead of attracting new companies.
  • Property taxes are going up as school districts struggle to replace the funding.
  • Bad deals mean the city is spending taxpayer money to cover the losses of some private developers.

Star Series: 


Comments

3 Comments so far

  1. Mark Forsythe on August 27, 2007 9:10 am

    The mayor has issued a press release announcing a news conference today at 2PM to “react to media coverage of TIF.”

  2. tommy boy on August 27, 2007 12:51 pm

    And one good example is the Shock, Hardy and Bacon building next to Crown Center

  3. mainstream on August 27, 2007 9:17 pm

    Wow, I’m stunned at the use of “bs” in your post. Y’all Blogkcr’s have always been so polite…..

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