Talkin' TIF has moved here.
Greetings River Guardians,
(from the Friends of the Mississippi River)
Ford Area C community meeting: Thursday, February 20, 6-8 pm
Please mark your calendars for Thursday, February 20 for a meeting focused more deeply on Ford Area C, the floodplain hazardous waste dump mentioned above. The meeting, hosted by the Minnesota Pollution Control Agency, will include more detailed information about Area C's history, current state and future.
To receive more updates about this meeting, you can sign up for FMR's Ford Area C email list.
I hope to see you in February!
For the river,
(On behalf of the FMR Ford Area C team)
Press comments re TIF
Reading the most recent articles describing funding for the Ford site, one could be forgiven for being confused. Is public funding going to be over $100M as Ryan initially requested (which set off quite a clamor), or is it $53M or some variant as both the Strib and PiPress announced.
Review the articles and then spend a bit of time on our TIF page where you're more likely to find the real stuff.
(From Mail Chimp, 12/16/2019)
As has been the case throughout this process, the City ignored the concerns NLSP expressed on behalf of the community. Regrettably, but not surprisingly, the City Council unanimously approved a $275M TIF package, $53M of which will go to the developer to subsidize infrastructure construction at the site with $184M allocated for interest payments on the loans (bonds) the City needs to raise the money (see table of financing costs above). It is also worth noting that publicly-funded projects are notorious for cost overruns, so it is not unreasonable to expect that additional subsidy requests will be made as the project proceeds.
Neighbors for a Livable Saint Paul will continue to work on issues relevant to this development,
and we will do our best to keep you apprised of changes or new developments.