The City of Sioux Falls is actively working to use a property tax reduction method originally created in the 1970's to help clean up blighted areas such as Falls Park to subsidize the building and ownership of 65 residential homes in northeast Sioux Falls. Mind you that this practice is explicitly prohibited by the below statue. In short, their goal is to write a check to the contactor preparing the soil and infrastructure for this housing site, sell this debt to bond holders who collect interest on this debt, sell the finished houses below market value and then divert future property tax dollars that these new houses would produce for up to 20 years.
Mind you that this would mean that these dollars would not be available to pay for services such as Fire Service, Police, and Street Maintenance. While these houses will equally consume these services, they do not pay for them. These costs are paid for by their neighbors outside of the TIF District.
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As of 2005, the below law was placed on the books. Since then, over seventeen hundred Legislators have had the opportunity to modify or repeal this law.
I will not be the one to lead any effort to change the current law that is in effect. Moreover, I tend to focus on the long-term societal harms 50 years of abortion has done to our communities, schools, and economy. When people stop having kids above replacement rate, who will be the next generation to take care of our infrastructure, provide our food, and take care of us when we are old and beyond our working years? Abortions are but one method for treating the symptoms of underlying social issues. Let's tackle the underlying issues and the need for symptom relief will continually diminish. Every attribute of our daily lives are affected by how we transport goods and ourselves to and from our work, our homes, and our recreation.
Government is well suited for providing the common use roadways and right of ways; we could not function in a world of exclusively private toll roads. We cannot just rely on the work done in the 1950's. We have to continue to honor the labor of the past by advancing and optimizing our transportation methods to serve our needs and the growth of the future. |
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April 2024
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