I, like everyone else, have received my tax bill with the green insert breaking down how tax dollars are distributed. My question in this matter is how does the government monitor its return on the TIF money? Is there a formula used to equate whether the usage of TIF money is actually a good investment for taxpayers?
Personally, I believe TIF money, in its original form, was and is a useful tool to initiate growth in blighted areas. However, the actual implementation of TIF money has resulted in basic corporate welfare for individuals and/or corporations who are financially capable without TIF money. So, how does government monitor the return on the investment? I sure hope there is a better way than having someone drive by Ruler Foods and glancing at the parking lot and then proclaiming “the lot looks pretty full so it must be a good investment.”
Gary L. Cox, Belleville