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GreenHomeowner

I enjoyed your latest piece on the economy and the hidden subsidies to corporations. The stadium bit caught my eye having tried to expose those subsidies in Richmond. Promoters called it a great deal for the city, practically free, until some of us started digging and finding bonds with public exposure and cost along with the commonly used trick, Tax Increment Financing (TIF), to rob the public coffers of future property tax revenue in order to pay for things like infrastructure improvements. Hardly serving the intent of the law for "public good" if TIFs are not used for transportation improvements, sewers, schools, etc., but to benefit bad public investment in private development. And this is happening all over the country, in cities with deteriorating centers, crumbling schools, and fiscal problems...they quietly add new TIF districts to help build stadiums and new condos!

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