Go Jam Your Log Some Place Else

Desperate to retain capital investment, cities now entice developers with “geobribes” like Tax Increment Financing (TIF); a development incentive wherein cities designate areas “blighted” and issue bonds to pay for upgrades before handing it all over to private developers to build condos and theaters. Missoula awarded $1.5 million to Stockman Bank in TIF money. But since Missoula didn’t have the money in hand, Stockman Bank loaned Missoula the $1.5 million at 3.8% interest, to be given back to Stockman Bank as a subsidy they didn’t need at taxpayer expense. Now Mayor Engen threatens to further line the pockets of Wisconsin millionaire Nick Checota with more than $16 million in TIF. It turns out that all the controversial TIF developments have one thing in common – their owners contributed to Mayor Engen’s campaign. Just pay John and you can screw the taxpayers all you want. If we can afford to give Nick Checota $16 million, we can afford to fix our potholes and address poverty.

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