[Mpls] $30m in TIF funds to be redirected to affordable housing?

[Lisa McDonald]

I think the County and the School Board would have to sign off on extending these districts as they would also be giving up revenues for their general fund. I can't imagine given the financial issues faced by the School Board they would do that.

Lisa McDonald
East Harriet

----- Original Message -----
From: Victoria Heller
Sent: Monday, October 25, 2004 3:59 PM
To: Mpls Forum
Subject: [Mpls] $30m in TIF funds to be redirected to affordable housing?

Doug Walter writes:

"This action would allocate $21.5 million of the tax increment revenues
expected over the next five years to "affordable housing" and additional
$8.8 million for "administration" of those funds."

Vicky Heller adds:

The CPED folks want the $8.8 million of administrative fees to pay their own
salaries.

Minneapolis has plenty of affordable housing and very high vacancy rates.  I
agree with Mr. Walter:  De-certify the TIF Districts and put the money into
the General Fund - for Police, Fire, Streets, Pensions, etc.

Vicky Heller
North Oaks and Cedar-Riverside (a TIF District for 36 years and counting)

REMINDERS:
1. Think a member has violated the rules? Email the list manager at mplslist at tcq.net before continuing it on the list.  
2. Don't feed the troll! Ignore obvious flame-bait.

For state and national discussions see: http://e-democracy.org/discuss.html
For external forums, see: http://e-democracy.org/mninteract
________________________________

Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy
Post messages to: mailto:mpls at mnforum.org
Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mplsGet more from the Web.  FREE MSN Explorer download : http://explorer.msn.com