We follow Indy Tax dollars and think you should too. We're in agreement on a recent suggestion given to incoming Mayor elect, Greg Ballard. --HHFT editor
TO OUR MAYOR ELECT FROM INDY TAX DOLLARS
We respectfully offer the following ideas for your consideration.
1. Direct your new Metropolitan Redevelopment Commission to place an immediate moratorium on any new plans for tax abatements and/or Tax Increment Financing (TIF) districts involving downtown commercial and/or residential proposals.
1a. Assemble a complete list of current abatements and TIF districts as to geographic area, length of time involved and fiscal impact on governmental revenues.
2. Determine which parcels of downtown real estate being used by private, for-profit businesses are not on the assessment rolls, their current value, and the possibility of how they could be restored to the tax base.
3. Determine the total debt of the city and county, including all agencies, boards, commissions, etc., authorized to issue bonds, but also including long-term leases. In other words, all long term fiscal contracts.
4. Make a complete audit of municipal "investments" in commercial properties to find the terms and conditions thereof, and to determine whether or not they are being met.
We believe these items would give you a start in finding out just what you have taken on, Colonel. We will pray for your success.
Signed: Indy Tax Dollars
p.s. You might ask the retiring head of the CIB just where he intended to find the additional $10 million for operational cost of the new stadium
(psst...he's talking about Fred Glass, Bart Peterson's real world best friend)
Friday, November 16, 2007
Posted by M Theory at Friday, November 16, 2007