More, gimme more

City council has an agenda item on their Tuesday, October 1, 2019 agenda that would modify a deal they cut with the owners of the properties that we commonly refer to as Monticello.

The backup material includes an amendment to the contract but does not show what will be changed.

It took a little digging but we found the original contract and compared it to the proposed revisions.

It seems that the original contract refunded 100% of the increase (because of the building that they were doing) in city property taxes through 2017, 50% through 2027 and 25% through 2032.

The new deal gives them 100% of the increase from 2020 through 2022, 50% from 2023 through 2032, and 25% from 2033 through 2037.

The owners will also have to increase property values less in order to be eligible for the tax payments.

Originally they were required to meet at least 50 percent of this chart:

Under the revision they must meet a much lower goal of 50% of this chart:

 

In return they will give up the tax rebates from the facility known as Top Golf.

We deserve better

Brutus

7 Responses to More, gimme more

  1. John Dungan says:

    More behind the back, don’t let the left hand know what the right hand is doing shenanigans from a group of elected representatives, who no doubt let the regular city employees direct their activities, as in just going through with whatever deals the City Manager has put together.

    Liked by 1 person

  2. JerryK says:

    When you and I build a house on a lot, we pay the tax on the increase in value. If you are a developer with friends in City Hall, you get a break and the rest of us pick up the tab for the urban services that you aren’t paying for.

    This is the local trickle-up economy in action, a welfare state for the wealthy.

    Liked by 2 people

  3. AstroAnonymous says:

    And the RENT at Monticello is VERY VERY high.
    Most expensive apartments and retail space on the west side.
    And, they get a discount on property taxes.
    Wooooosh !

    Liked by 1 person

  4. Money Penny says:

    This is like the title of a new James Bond film:
    “When enough is not enough.”

    Liked by 1 person

  5. Fed Up says:

    The developers of Montecillo have also been allowed to destroy Mesa street. Their failure to invest in proper drainage and erosion prevention has caused damage to that stretch of Mesa and continues to cause traffic issues and hazards during heavy rains.

    Like

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