TIF EDUCATION:

Here is the solution, down and dirty, that Council came up with for funding the stormwater issue. It involves TIF areas. Most towns have only 1 or 2; we (of course) have 7 or 8.TIF stands for Tax Incremental Financing, which allows ALL property taxes in those areas to remain in those areas for capital improvement projects. Take the City of New Albany map, place 8 quarters on it, draw circles around them. This shows the amount of monies now NOT going into the General Fund. That is one big reason the General Fund is having so many problems; that and tax abatements. The County has issued only one tax abatement and that is to SHOTS in Georgetown. This City has about 17 pages worth of them; you can obtain a copy of same by going to the County Auditor's office and asking for a report of tax abatements broken by townships. Tax Advocates tried to warn Council members of this the impact to the General Fund, if you can step out of the box and look at the big picture. So when Council says there is no money in the General Fund, please remind them of their TIFS and ALL those tax abatements.The SWAC has until May, 2006 to start collecting monies for this project, without collecting the $25,000 fines you have read in your local Tribune today. You would think the SWAC can accomplish what they need to do in that timeframe, seeing they understand the process and some know things about the finances of this city.The bond monies owed are available in these TIF areas, alongwith millions more. The State St TIF doesn't have a bond anymore, just monies.The County has finished their Stormwater Ordinances and have started implementing them. They flow through the County Planning Commission. The hope would be that is the way this project will go, through the City's Planning Commission. This City really does not need another layer of government by forming a new 3 member Sanitary Board, chaired by the Mayor (what an additional expense).The ordinances created by a consulting firm for the county are now in the public domain and taxpayers own them outright. You would hope the SWAC simply duplicates them; with pertinent changes that would be applicable. The Council helped simplify things by coming up with the TIF monies being used, because now there are no problems with collections; just start writing the checks as needed. The Drainage and Stormwater projects are capital improvements and that is what the TIFs were designed for. If this City has to have them, let them use them to improve those areas without using more fees. Sidewalks and paving shouldn't cost millions, but maybe in this City they do.You can't be too sure with people saying the fight is still on, fun is just beginning, etc.. After the information you have read about how the financing and flow would work, do you find their remarks as irresponsible as, say, I may? TIF knowledge and understanding a major solution was found for all home and business owners was totally lost on some audience members; and maybe some Council members, who don't have the knowledge or history, either.Council, you can repeal some of those TIFS if your General Fund is in that bad of shape. And, Stormwater Funding can be used out of the TIFS. That's the moolah on that one. But let me stretch and say, "that's my opinion".