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| Mayor Briley |
The Tennessean, ....Mayor David Briley told an influential group of business and political leaders last week there's "no crisis." ....
A rebuke on Briley's remarks on the fiscal situation —
in which a shortfall in expected tax revenue made for only modest
budget improvements even as Nashville's economy is booming — came from
At-large Councilman Bob Mendes at Tuesday's council meeting.
Mendes
took the floor to discuss an ordinance he's introduced to overhaul tax
increment financing incentives that the city uses to spur downtown
development. The bill, which seeks to protect tax revenue for public
schools, advanced on a second of three readings.
He cited figures
that place Nashville second in debt per capita among the nation's top
50 populated cities, trailing only New York and directly ahead of
Chicago.
"We're out of whack," Mendes said,
defending his push to "reset" TIF incentives that were originally
adopted 35 years ago. "We're having problems with fundamental equity for
employees in the city.
"There is a crisis in the
city when it comes to its finances," he added, "even if the people
downstairs don't want to use that word."
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