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Wednesday, October 04, 2006

State 29: Iowa City Grants Another TIF Request For A Luxury High-Rise

Excerpted from this post at State 29

... TIF money was originally intended to help develop blighted or undeveloped areas. This is a prime location in downtown Iowa City that any developer would have wanted to build on. And you just know that the apartments and condos built will go for top dollar due to their location and view. ... I'm not saying this stuff shouldn't be built, but why do the taxpayers have to subsidize it? Don't give me this "investment" or "it'll eventually increase the tax base" nonsense. You know that the guy opening a new retail location or building a new middle class house doesn't get these sorts of breaks.

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Mike Schramm
Andy Szal

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