Dana: Doubtful that BASD Would Agree to TIF - 20th in a series on parking · The Bethlehem Gadfly

Dana: Doubtful that BASD Would Agree to TIF - 20th in a series on parking

Identifier: gadfly0031
Title: Dana: Doubtful that BASD Would Agree to TIF - 20th in a series on parking
Creator: Gallagher, Ed
Faccinetto, Michael
Date: 2018/09/26
Description: BASD board president Michael Faccinetto writes a letter: "I do not think the BASD Board would agree to extending the TIF. We have structured out Nitschmann MS borrowing around the return to full tax revenues in 2020-21. We are forgoing somewhere in the neighborhood of $5 million
each year to the Redevelopment Authority. A large portion of that is needed to fund the debt service associated with NMS going forward. While this option would save city residents from big parking increases, it would cost BASD taxpayers significantly more to make up the loss in anticipated revenue..."
Medium: blog post
Contributor: Gallagher, Ed
Faccinetto, Michael
Publisher: Bethlehem Gadfly
Language: English