Good News for Twin Cities

[DennisinPeoria]

A developer from Wisconsin, Phoenix Investors, renovated a warehouse that has sat vacant for 10 years, and had a ribbon cutting celebrating the accomplishment. Totaling 500k square feet, it could attract a supplier or distributor to work with Rivian, who leases the other 500k square foot building.

It was all done with no Federal grants or loans. A state grant was provided to upgrade the county road leading to it, and the land has been part of a TIF district in Normal.

https://www.centralillinoisproud.com/ne ... suppliers/

(Disclosure: I worked on this story today)

[Tazewell]

Ugh. Can't anybody do business anymore without using taxpayer money?

[RPlant]

Ugh. Can't anybody do business anymore without using taxpayer money?

And in 3, 2, 1 - ugh. The TIF was formed by the City, not the business that located there.

[Tazewell]

Ugh. Can't anybody do business anymore without using taxpayer money?

And in 3, 2, 1 - ugh. The TIF was formed by the City, not the business that located there.

How many times do we have to have this debate? Where does the TIF money come from?

[RPlant]

Ugh. Can't anybody do business anymore without using taxpayer money?

And in 3, 2, 1 - ugh. The TIF was formed by the City, not the business that located there.

How many times do we have to have this debate? Where does the TIF money come from?

So the business should avoid an ideal site because the City previously included it in a TIF zone? Do you have proof that Phoenix selected that site because of TIF incentives? Seems like they selected it to support Rivian and there just happened to be an existing TIF. But please, expound your insider knowledge of all business goings on @Tazewell.

[Tazewell]

So the business should avoid an ideal site because the City previously included it in a TIF zone? Do you have proof that Phoenix selected that site because of TIF incentives? Seems like they selected it to support Rivian and there just happened to be an existing TIF. But please, expound your insider knowledge of all business goings on @Tazewell.

My issue in this case is more with the bureaucrats that created the TIF in the first place, not the business. Does that answer your questions?

[RPlant]

So the business should avoid an ideal site because the City previously included it in a TIF zone? Do you have proof that Phoenix selected that site because of TIF incentives? Seems like they selected it to support Rivian and there just happened to be an existing TIF. But please, expound your insider knowledge of all business goings on @Tazewell.

My issue in this case is more with the bureaucrats that created the TIF in the first place, not the business. Does that answer your questions?

No because it appears that you don't understand how a TIF works.

[Tazewell]

No because it appears that you don't understand how a TIF works.

It appears that you don't understand that TIFs are a form of corporate welfare, something you claim to be against.

[RPlant]

No because it appears that you don't understand how a TIF works.

It appears that you don't understand that TIFs are a form of corporate welfare, something you claim to be against.

The only "welfare" is a freeze on the local real-estate tax for a set period of time, often 5 years, after the investment is made.

Again, do you know how a TIF actually works?

[Tazewell]

The only "welfare" is a freeze on the local real-estate tax for a set period of time, often 5 years, after the investment is made.

You always say that, but that is not reality. The taxpayers are on the hook if the development fails which seems to happen more often than not. On top of that, TIFs give businesses in the TIF an advantage over those outside the TIF. That is corporate favoritism. Surely you're against that, right?

Again, do you know how a TIF actually works?

Yes. I also know how and why they fail, something you can't seem to grasp.