The Tennessean, July 19, 2018 - The city diverted $9.3 million of property taxes from schools to pay off redevelopment loans — for downtown hotels, luxury condos and other projects.
Such diversions have occurred for decades, but in the past two years they've grown quickly. This fiscal year's amount was about $1 million more than expected. (link)
Rod Williams comments: To be fair, some of the development would probably not have occurred without incentives but one cannot say how much. Still, way to much money is going to developers rather than the city's needs.
Top Stories
Posts
No comments:
Post a Comment