- Patti Kurgan and Sherrie Peif on tax incremental financing (TIF) and corporate welfare
- Bill Hudson on TIFs for the formation of a proposed URA in Pagosa Springs
Don’t get in such a TIF! That’s Tax Increment Financing.
Kim continues the conversation regarding TIFs with Kim Monson Show researcher Patti Kurgan and Complete Colorado reporter Sherrie Peif.
Our question on the table is why do Politicians, Bureaucrats and Interested Parties (PBIs) opine they need more of our money while awarding millions of dollars to big corporations through grants, tax revenue paybacks and more?
As The Kim Monson Show continues to examine the damage corporate welfare can cause for Coloradans, communities, and small businesses, Bill Hudson of the Pagosa Daily Post joins Kim to discuss the proposal to use tax increment financing to form an Urban Renewal Authority (URA) with a redevelopment goal for downtown Pagosa Springs. The issue has fierce supporters and detractors. Bill has written extensively on this issue. The following is from an October 10th editorial:
“The Town government has been presented a petition, signed by 31 people, asking for a determination by Town Council that “slums and blight” exist within the Town limits, and asking the Town Council to form an “Urban Renewal Authority” to address the redevelopment of those “blighted” areas. The Town Council has scheduled a discussion of the petition request for their regular November 5 meeting at 5pm; that meeting will reportedly be held at the Ross Aragon Community Center to accommodate a crowd, in case numerous community members are interested in this issue.
I’m not sure if Mr. English and the other Pagosa residents who support tax subsidies for the Springs Resort have actually read Colorado Revised Statutes 31-25? CRS 31-25 begins with a clearly stated legislative intention: to address dangerous slums and blighted areas in urban settings. This declaration explains the situations where the law should be used.
31-25-102. Legislative declaration. (1) The general assembly finds and declares that there exist in municipalities of this state slum and blighted areas which constitute a serious and growing menace, injurious to the public health, safety, morals, and welfare of the residents of the state in general and of the municipalities thereof; that the existence of such areas contributes substantially to the spread of disease and crime… and that the prevention and elimination of slums and blight is a matter of public policy…