The final gripe of the evening takes the form of a request for an economic development incentive for Montford Commons. The project got sorta stranded when financial institutions stopped lending for urban villages. So, the developers did what every New American does these days, and turned to government for assistance. If city taxpayers don’t contribute to the project, then it will lose the $3 million it will receive from HUD for allegedly rent-fixed, but not LEED-certified, comrade housing. All the developer is asking is relief from Phase I’s property taxes for ten years ($1,500,000), permitting fees ($87,500), and water tap fees ($103,012).
City staff, however, is not entirely seduced by the ploy presented only nine days before city council was supposed to review it. As if mocking an absence of logic, their report relates:
They state that the proposal should cause little or no burden on existing city and county budgets as the assistance will be based on the revenues generated from the project when completed.
Fortunately, city staff recognizes other taxpayers will be shouldering the burden for providing services for this project during its relief stages. Unfortunately, they are also of the opinion that the project could be made more tolerable with enhanced public purposes, such as more affordable housing, LEED certification, delayed construction of a parking garage, and construction of commercial buildings (because they say that will create permanent jobs).
