Wed
Mar 26 2008
07:10 am
IDB committee gives thumbs down to two TIFs
By: R. Neal

According to the KNS, a Knox Co. IDB committee recommends turning down two TIF proposals:

Todd Napier of the Development Corporation of Knox County questioned whether the project would generate new sales or simply redistribute spending.

"To say there's new sales tax revenue is a bit of a guess, and in our estimation it's not very likely unless this becomes like a destination, something very unique," Napier said.

Finally, some common sense. One of the developers said he didn't need the TIF to go forward, meaning it doesn't meet the "but for" test. The other developer, Tim Graham, says he needs a TIF because Halls needs a Lowe's anchored strip mall.

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Bird_dog's picture

Finally, some common sense. AMEN

Submitted by Bird_dog on Wed, 2008/03/26 - 9:48am.

The TIF application should have gone to IDB first. Commission spent too much time speculating and arguing about this instead of having IDB and Troyer offer an educated response to: Does it meet the requirements of TIF? Can we afford it? It could have just died in committee. And NOT spending money on a questionable TIF wouldn't piss off many taxpayer's.

Ragsdale2010's picture

Not spending TIF money on retail would be a good idea

Submitted by Ragsdale2010 (not verified) on Wed, 2008/03/26 - 4:11pm.

This town is way overrun with strip malls, big box retail, available outparcels, and developers with egos the size of Texas and the taxpayers of Knox County should not be called upon to support any of the above items, particularly the developers egos and their wallets.

If a retail project can't stand on its own, then it can't be built in Knox County.

Use TIF money for things that actually put people to work, not just move a company's employee around from time to time. The wages paid by these big box retailers are a joke and hte sooner we stop settling for this low wage garbage called "economic development" by our local gubmin't leaders the better off we will all be.

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