IndyCorrupt blog is scanning and publishing internal city documents

We found this document which appears to be an economic study by Reedy & Peters, LLC Certified Public Accountants to detail the impact of the IndyWorks merger touted by Mayor Peterson as a huge money saver to the public. The document is dated November 8, 2005. A copy is scanned on a blog site called Indy Corrupt. If this is a genuine document, then the mayor knew all along the merger would cost the taxpayers a 97% increase in property tax. The site makes claims it has more information, so we will watch it.

Part of the analysis warns:
GENERAL/PROPERTY TAX EFFECTS:
We find that although the Works proposal shows property tax reductions from its implementation, no property tax reduction is anticipated. Also, we find the result of not providing property tax reductions would cause a $40.5 million tax shift out of the IPD and IFD areas onto the township areas outside IPD and IFD. Further, we find the graphs and table in the "Property Tax Benefit Section" in Works to not be representative in base data or potential savings.