Monday, June 09, 2008

Possible TIF

Another item at the last council meeting was a possible TIF (tax increment financing district).

Mixed emotions on these things. More later on that aspect.

The item at the last council meeting was an agreeement between the city and a group for various studies, with the group paying the costs and no expenditure by the city. The group is made up of various individuals and one LLC. The kicker here is that the ownership info on the LLC is not public info, and according to the Secretary of State's office they are not required to file that info until 4/15/09. Or actually any time after 1/1/09 but no later than 4/15/09.

This could turn out to be a very viable, beneficial project, but again more on that aspect later. I personally just have problems with the hidden ownership element.

As it is now, it is just "being looked into". Let's see what happens after the "looking into".