Pier TIF Amended to Support Visioning Process

There is going to be a lot of flack thrown up in the air over the Pier ballot. 

One of the issues that may not show up is the how the TIF Funds were  manipulated to get the visioning process in a position to use the funds to develop a new Pier as opposed to the original plan which was to build a new approach and renovate the pier head.

Over in the pictures is a PDF of a letter from Jewel White, Assistant County Attorney, to James Bennett County Attorney dated July 12 that lays out the detail and the amendments to the 2005 interlocal Agreement between the county and the city.

The Agreement has been amended three times, but the third one changed how the Pier TIF funds were to be used. You can click on the PDF and read the details. The tables are landscape so click view and rotate to make them easier to read.

Note that the funding assumes revenue thru 2035, and is attended to support some form financing such as a bond issue. One of the not too often mentioned numbers  is what will the cost be to finance whatever is built on the water front.

You will also note there is no immediacy to spend the TIF funds, they do not go away at some timer certain. The city has all the time they need to develop a new design for the Pier.

This might be a real good document to have with you when you attend the Pier Ballot question public hearing scheduled for Aug. 2.

Perhaps putting the whole thing on hold until after the next City Council/Mayor election would be a good idea.

In the mean time since according to the staff the Pier approach is in danger of collapse and must be torn down, why not stop all vehicle traffic on the Pier NOW to help extend the approach life and add some small electric trolleys to actually be a bit greener. 

If you have trouble opening the PDF here, send me an e-mail and I will forward you a copy.

e-mail Doc at: dr.webb@verizon.net, or send me a Facebook Friend request.