TIF Fallacy #2: Transferring taxpayer dollars for private development is simply “investing in the community.”
Make no mistake, the tax dollars being transferred to developers for private development is “investing” those dollars for the benefit of that developer. This “investment” of taxpayer dollars does not come with a stock certificate, dividend checks or interest payments. Instead, proponents of this type of corporate welfare prioritize that private development higher on the taxpayer-funded to-do list than role of government tasks like roads, stormwater, public safety and parks. At the end of 25 years, the private developer will own the development after having had taxpayer help for 25 years making the mortgage payment. Doesn’t sound like an investment any private citizens would make with their money.