These amounts are the balance in each TIF account as of 1/1/12:
Grantline Road TIF - $2,414,892.31
Park East
Industrial Park - $1,826,854.60
State Street/ Green
Valley Road/West
Street Vicinity - $1,702,572.98
State Street
Parking Garage - $350,387.96
Charlestown Road - $3,042,783.57
Old Monon
Corridor.............. - $891.387.97
Loop Island/
Tannery District.. - $5,128.74
___________________________
Total .................. $10,234,008.13
The question downtown should be: To TIF, or not to TIF or if you borrow from TIF's you pay them back.
You have to have some people that know how money works. Unfortunately the City of New Albany doesn't. That's the key - people who know that if you're going to make this investment, that you have a great chance of recouping it, not just doing a project for political reasons.
Just think how much more money our General Fund would have if Carl would stop adding or expanding TIF areas.
We can only wish...right?
