Thursday, September 8, 2011

Not So Fast (The Daily Bite)

It appears I may have been wrong. News is out today that SoMil has agreed to provide big bucks to improve this site for development for non other than Wal-Mart. I feel like I've been kicked in the stomach. This will decimate our neighborhood and kill what's left of our downtown.

I certainly hope SoMil receives enough tax income from this new development to make up for the drop in property taxes that will occur in the surrounding neighborhoods since property values will suffer. It's a TID though: tax incremental district. So if they do, it won't be for awhile.