A relative makes a point when he tells me that the City of Highland Park spends too much of our tax money building big projects because the elected officials think that is their mission. He believes that elected officials should keep the lights on, pay the police and fire and pave the roads but that too often our local officials spend most of their energies pursuing big expensive un-necessary projects.
I don't share that view entirely, but when I read about proosed tax-giveaways like this it is hard to disagree with him. In today's Highland Park News, Charles Berman reported that Chicago-based Baker Development is asking the City for $18 million in tax revenues as an incentive to build a hotel / condo complex off of Central Ave. near Laurel.
Here's the most relevant passage from Berman's piece:
"Council members were ultimately OK with staff dedicating time to work with the developer on negotiating a preliminary financial plan that revolves around the city relinquishing $18.5 million of revenue over a 20-year period.
The development team is asking for 100 percent reimbursement of the business district tax, municipal hotel tax and incremental property taxes along with 50 percent of the site's sales tax revenue during that time."
The City Council directed City staff to "explore" the options. I have nothing against this project. A hotel in downtown HP could be great. But why does the developer need us to pay for it? What makes this project so publicly beneficial that it merits a $18 million subsidy from all of us? Can the City afford to pay out that cash? If yes, then I would like a tax rebate please!
The truth of the matter is that our local elected officials can't stop drooling when they see a big project, so they ask the staff to crunch the numbers and they wait to see how loudly you and I scream when we read about it. I think its a bad idea. Maybe that relative of mine is right after all.
