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Dear Editor: I agree with David Golwitzer's stance on the creation
of residential TIF districts. [See
letter.] If I may, I would like to offer a few other things I
have come across in my research of the formation of such districts.
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During 1977-2000
there were 700 TIF districts formed by municipalities in
Illinois. Only 42, or 6 percent, of those TIF districts were
residential districts.
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When considering
an area for TIF designation, municipal officials must ask the
question, "Will the same kind of private investment occur here
without an incentive?"
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For the most part,
residential developers are driven by the general attractiveness
of the city. A subsidy may well give a real advantage to one
developer over his or her competitors, but it does little to
raise demand in the city as a whole.
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Residential
construction subsidies provide little in the way of long-run
employment opportunities.
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Tax increment
financing (TIF) allows a designated area of the city to dedicate
all of its increases in property taxes to infrastructure and
related projects in the immediate vicinity. It is a form of
privatization of public revenues for the benefit of a specific
area of the city.
[to top of second column in this letter] |
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If the proposed
sewer extension by the developer is brought to the housing area
from the north near the Sysco property, wouldn't that deter or
cause some delay in development of Fifth Street Road and the
development of sites along that road?
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If a TIF district
is necessary, wouldn't one for commercial or industrial
development be more beneficial to all the people of Lincoln
rather than just serving the needs of the people living in the
residential TIF district?
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This decision
should not be made in haste to meet the desires and needs of a
developer. More time is needed to study the advantages and
disadvantages of TIF districts in order to arrive at a final
decision on such an important matter.
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There is a need to
take a close look at the impact a residential TIF district, as
proposed, might have upon the school districts that encompass
the area.
I cannot and do not represent any members of the city council or
the mayor on this subject. The above information and questions are
my own thoughts and should not be construed as other than that.
Les Plotner
City Treasurer
(Posted March 6, 2006)
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