Supreme Court Upholds Fayetteville TIF Ruling
Posted: February 21, 2013 at 11:48 a.m.
The Arkansas Supreme Court affirmed Thursday that a property tax increase voters approved in a school millage election cannot be used by the city the city of Fayetteville for a down town redevelopment project.
The case, which revolved around a 2.75 mill property tax increase voters approved in 2010 to pay for the second phase of construction of a new high school.
The city had contended the tax should go to a city tax increment financing, or TIF, district to help pay the city’s debt for a redevelopment project.
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This is one of those things that hits my pocketbook either way, but I know that my intention in voting for the increase in the tax was for the school's use.
I am willing to do whatever needs to be done now to repair the old TIF disaster (which I opposed at the time and still think it was a crazy thing to do).
Posted by: Jim_Huffman
February 21, 2013 at 12:30 p.m. ( permalink | suggest removal )
Yes, the downtown, Fayetteville TIF was a foolish undertaking initiated during the Bush Bubble Days when no one gave a thought about the future nor the constitutionality of the TIF.
Fortunately the Ark Supreme Court could see thru the TIF scheme. For a full report on this madness go to the following link:
http://www.arktimes.com/ArkansasBlog/...
Posted by: cdawg
February 21, 2013 at 12:52 p.m. ( permalink | suggest removal )
I actually think that occured during the Coody Bubble Days. I also thing that Coody was one of yours, cdawg, a blooming liberal moonbat.
Posted by: Moneymyst
February 21, 2013 at 4:39 p.m. ( permalink | suggest removal )
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