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The Way I See It!

I am an Ultra-Conservative, Alpha-Male, True Authentic Leader, Type "C" Personality, who is very active in my community; whether it is donating time, clothes or money for Project Concern or going to Common Council meetings and voicing my opinions. As a blogger, I intend to provide a different viewpoint "The way I see it!" on various world, national and local issues with a few helpful tips & tidbits sprinkled in.

Very Important Cudahy Public Hearing Tuesday on TIF and Development

Cudahy, Development, Lara Fritts, TIF, CDA

Meeting of the Community Development Authority of the City of Cudahy for Tuesday, March 9, 2010 at 5:30 PM at the City of Cudahy Municipal Building at 5050 S. Lake Drive, Cudahy, WI 53110.

 

Please attend the Cudahy Public Hearing Tuesday on the TIF and development.  My question is should we the taxpayers be giving any big box retailer TIF money?  Does it matter if it is Target, Wal-Mart or ShopKo?

 

Now I will support any big box that wants to develop in Cudahy, but I don’t think TIF money should be giving for big box retailing.  Mayor McCue was against it during the 2007 election, but that might have only been because Wal-Mart was looking at the Layton and Pennsylvania land, but if it is ShopKo, I guess he is okay with it now!

 

I would love a ShopKo in Cudahy, just as long as tax dollars are not used for it.  We cannot play favorites right?  If it wasn’t okay for Wal-Mart, the same needs to be for all, or Cudahy could see another lawsuit.

 

Why do the taxpayers keep having to foot cleanup bills?  Shouldn’t that be the developer’s bill?

 

Here are the details:

 

Cudahy on March 9 will have a public hearing on the plan to create a tax-incremental financing district that will help pay for the cleanup, Fritts said.

 

"We're estimating that this is a three- to five-year project," she said.

 

Tax-incremental financing districts let cities borrow money to pay for public projects and support private development in a designated area.  The increased property taxes generated within the district pay off the project debt.  When the debt is paid, the district dissolves and the property taxes revert back to traditional collections.

 

The city plans to borrow $2.1 million through a new TIF district to pay for remediation costs.  Cobalt would borrow $3.5 million through the TIF district for the same purpose.

 

If the remediation costs exceed $5.6 million, and they are expected to, Cobalt will pay for the rest, Fritts said.

 

If the TIF plan is approved in March, the city will begin more detailed environmental testing on the site this year to find out how much cleanup work the site needs, Fritts said.

 

McCue said the current plan is for a large retail store, with smaller satellite restaurants or shops on the property, but that could change with time.  He said he's discussed other options with the developer, such as a business related to airport operations.

 

"It's a very unique parcel of land," McCue said, "and with its proximity to the airport, we hope to attract a good tenant."

 

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