Barrington TIF revenue never realized

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  • Rick Smith

    We were warned of the possibility of all this in The Frost Brown Todd wrap up summary. It was clear the Administrations recklessness had put us in a bad position on a number of these issues.

    So far the risks they outlined are turning out to have been a foreshadowing of the mess that we are left to clean up. Virtually all of the areas they addressed as potential concerns have been validated and become actual real issues.

  • Rick Smith

    By Gary R. Welsh at Advance Indiana :

    “California was the first state in the union to use TIFs, which were
    originally designed only to assist development areas in blighted areas.
    As we’ve seen in Indianapolis and Carmel, TIF districts have
    been created in the most booming areas of the community in an effort to
    grab as large of a share of property tax revenues as possible to bolster
    slush funds local officials tap to finance development projects of
    their large campaign contributors. Bond lawyers and financial advisers
    based in Indianapolis, which earn use fees from projects financed with
    TIF dollars and contribute boat loads of money to local government
    officials, are always encouraging local officials to expand their
    reliance on TIF districts.”