The goal of tax increment financing areas was to rebuild blighted areas and to improve infrastructure. The Sept. 24 Collinsville Council meeting for approval of TIF money was neither. I stated at the meeting, giving money from taxpayers made them corporate parasites. To be more correct, this is corporate welfare. The only difference between business welfare and individual welfare is the business does not have to divulge income from operations.
Laura Buick was granted approval of all increased taxes to be rebated back to it for 10 years. The city's Paul Mann stated this would amount to $580,000. Wow. Will Laura Buick give figures for increased sales and profits?
Another business applying for welfare from taxpayers was The Bank of Edwardsville. After Illinois 159 reconstruction, its parking lot has to be redone. Although being compensated from the Illinois Department of Transportation for loss of footage and reconstruction, the bank wants to have concrete instead of blacktop. Difference in cost: $27,000. The taxpayers to pick up $12,000 of the costs. What a great country.
Taxpayers need to let them know they are displeased with spending money on a successful bank. A tip jar can be placed at the front door for those who approve.