RDA projects
Concerned about RDAs. Wouldn’t our tax dollars be better spent on teacher
incentives or infrastructure improvements?
The funds that you refer to are not actual dollars available in today’s budget,
but are new tax dollars that the RDA projects should generate. They are the
future “growth” dollars that the district would get only if the projects are
successful and increase the assessed value of those properties.
Yes, our dollars would be better spent on our educational needs, but they may
not be there without some assistance. On the Cottonwood Mall project the
district revenue is projected to increase from today’s $171,000 to $4 million
dollars at the end of the 20 year proposal.
We need to ask the question, would the developer build the project without the
public dollars? If yes, then they wouldn’t need the district’s tax dollars. But,
if it wouldn’t happen without some assistance, then it’s probably a good
investment and we will see a significant increase in tax revenues when the
project is completed.
Asked at Taylorsville High School community meeting, January
22,
2008
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Concerned about money for Cottonwood Mall redevelopment. Are there safeguards in
place if the district splits?
The money that the district will be contributing to the Cottonwood Mall project
is the future, new tax increment as the value of the property is increased. The
tax dollars are specific to that piece of property. If the district was split
the money would all come from the smaller east side district.
Asked at Taylorsville High School community meeting, January 22,
2008.
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