Seems that it wasn’t that long ago that Phil Kirk and Ken Eudy were going around the state selling Amendment 1, Tax Increment Financing, as Self-Financed Bonds. They promised these bonds would not increase taxes and would create jobs.
The first instance of such a project, The Randy Parton Theater, proved that all promises were indeed untrue. Folks in other parts of the state should be wary of this tool in their backyard.
City leaders are considering a 3-cent increase to the property tax rate to help make up for the loss of money from the Roanoke Rapids Theatre. The proposal would affect businesses and homeowners
There is no such thing as a taxpayer free lunch and there have been tons of problems with this project since day 1. Wonder when the apologies will start flowing?
