06 March 2008

whats a tif?

on wednesday, 05 march 2008 the alexandria, la. city council held a special meeting to hear from state representative herbert dixon and others, regarding a controversial tax increment financing (TIF) scheme for some downtown development.

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05 march 2008 special city council meeting
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the city council approved this resolution. councilmen voting for it were: myron lawson, harry silver, roosevelt johnson and everett hobbs. voting no was councilman fowler. city council president louis marshall abstained because he is employed at one of the hotels the tif affects. councilman charles frederick smith was absent.
see the town talk 'concerned residents, officials discuss proposed alexandria taxing district.'

click here to download two page .pdf

so mayor roy sat down with a reporter from kalb.com for an extended interview (see link: 16 minutes 46 seconds).

the mayor says that local hoteliers are concerned about seeing "their money that they are plowing into the whole city being someway used for a particular development. you have this same notion -- you're taking something from me and giving someone i compete against an advantage. and thats important to people and the people that complain to me, the majority of the folks in the room today were hotel and motel people. and as you heard from some of the comments made there was opposition to it and in particular on this draft it's paragraphs I(1), I(4) and J(1)(a)...that if you look at it together, could allow the increment - the entire increment, to go to sorta the first come first served. if the bentley came in and locked down the full increment which those three paragraphs in conjunction allow they could tie up all the money."
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I(1)
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I(4)
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J(1)(a)
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click here to download nine page .pdf
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see also
central la politics
city puts the brakes on dixons tif plans and did marshall violate the code of ethics again?
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