What’s going on in the city
I’m making a conscious effort to devote additional time to this blog. Today you don’t get an essay, but a few short items I think are still important.
So:
A TIF tiff (sort of)
Tax increment financing districts are complicated little agreements that simultaneously elicit yawns from anybody expecting government to actually be exciting and yet make the municipal world go round, so it’s worth it to explain a little.
Assistant City Manager Billy Tyus called to my attention this morning that I may have oversimplified a bit in my explanation of the City Council’s decision to begin setting up another TIF district around the Pines Shopping Center.
As my story states, the developers would be given a property tax break for a few years to help offset the cost of tearing down the old Save-A-Lot and putting up a brand new one. That’s the short version.
I’m a bit guilty of oversimplification because the truth is the developers aren’t really going to be skipping payments (or making smaller ones) – they’re going to be paying the city, but the city just sets a bunch of that payment aside after they receive it and then drops it into a fund dedicated to making improvements to the property. That’s the longer version.
So, in essence, it’s a little like when you were living with your roommates in college and you paid your friend your share of the cable bill, but then he immediately turned around and gave you the ten bucks he agreed he’d throw in for pizza that one night when you came back from class and totally expected him to have the pizza money, yet he was up in his room with a sock on his doorknob and the other two guys you lived with were out in the living room with the TV on really loud and everything was just really, really awkward.
Maybe not exactly like that…
On that parking garage
The Barnes Building and its adjoining parking garage are going up for tax sale Friday, but our previously reported figures on just how delinquent it was in its property taxes weren’t complete. Macon County Treasurer Steve Grimm pointed out today that the grand total owed on 236 N. Water Street, 250 N. Water Street, and the three parcels of land that include make up the parking garage is actually about $71,000 instead of just the $56,000 we had listed before.
Since it appears they won’t be paid off before the buildings’ liens are put up, the question now is, who will become lienholders?
Recommended reading
Well, they adapted Cormac McCarthy’s “The Road,” and turned it into a movie with Aragorn. I am all pumped up to see it. It’s a desolate tale of a lawless post-apocalyptic world, where society and government have collapsed and violence is out of control.
I understand they were hoping to shoot in Illinois, but there was the whole problem of actually needing a road…
