Comments on Advance Indiana™: Report: Carmel TIF Revenues Could Fall Tens Of Millions Of Dollars Short In Repaying Debt

The law got changed a number of years ago to allow...

2014-07-23T18:30:09.086-05:00

The law got changed a number of years ago to allow TIF districts to be established anywhere regardless of economic need. They are now primarily used as an excuse for subsidizing projects in the most upscale areas that are typically undertaken by large campaign contributors of the politicians. Many local governments were pushed to the edge of bankruptcy in California, which is why the state legislature there repealed the TIF law. California was the first state in the country to enact a TIF law.

I thought TIF funding was originally intended for ...

2014-07-23T18:23:00.485-05:00

I thought TIF funding was originally intended for underdeveloped and impoverished areas??? How would a oasis for the wealthy and elitist city like Carmel be eligible for such financing?

Fascism / statism, is entirely reliant on fraud.

2014-07-17T21:39:57.594-05:00

Fascism / statism, is entirely reliant on fraud.

They became general obligation bonds once the city...

2014-07-16T16:36:27.103-05:00

They became general obligation bonds once the city bailed out the CRC and refinanced them to achieve the lowest possible interest rate.

Question: I thought the bonds for the redevelopme...

2014-07-16T16:21:34.000-05:00

Question: I thought the bonds for the redevelopment District were revenue bonds as opposed to general obligation bonds. Was I incorrect?

"City councilors who had reviewed a draft TIF...

2014-07-16T15:16:51.282-05:00

"City councilors who had reviewed a draft TIF report said they could not release the document, because they were told that the projections were preliminary and the document was not to be distributed"

This is bogus and someone needs to challenge Brainard on this practice. Every report, be it a development plan (Midtown) or the vaulted, much touted H.J. Umbaugh and Associates TIF projects or a C.L. Coonrod magical mystery 10 yr. financial plan are always marked in such a fashion - thus the public are not allowed to see the documents. We, the taxpayers are always being told the JB is such a whiz as mayor, but we are never given anything to substantiate his claim ....... I guess we just have to trust him ...... that's worked out so well in the past. (You didn't ask the right question. The definition of "is" is.)

It interesting that this "preliminary" / "draft" rational only works in Carmel. It's just another example of Brainard's "I'm going to do what I want ..... now stop me!" (and the City Council never does)