FeedLocal: Getting it mostly right on TIFs and enterprise zones
December 30, 2007 in Local Tags: DD Pizza, editorials, enterprise zones, Journal Star, TIF
I am frightened.
I’ve been reading today’s editorial on TIFs and enterprise zones, and I can’t find anything to really snicker at, especially since they came clean on having benefited from one, thus giving critics one less thing to sneer at.
Oh, I would have said ‘no’ to the $6 million Firefly Energy loan guarantee simply on the grounds that it put taxpayers on the hook for repaying a loan to a venture so risky they couldn’t get financing from the free market. It’s amazing to me that the council is getting more crap for the Double A Pizza boondoggle than the Firefly loan, considering the latter is has the potential to put the City of Peoria in the same position at WTVP is in right now.
But for the most part, this edit is spot on.
Like I said, frightening.
December 30th, 2007 at 5:50 pm
Have we heard anything from Firefly lately? Any ideas on how much of the credit they have used? I think I remember as part of the deal they were supposed to provide the city monthly financial reports; I wonder if anyone reviews them.
December 31st, 2007 at 1:01 am
Billy, please read my posting regarding that crap editorial from PJ Star about TIFs and stuff. You might learn something.