After IKON Hotel Issues, Council Moves To Assert More Control of TIF Districts
City has foregone $540,000 in interest payments at discretion of administration.
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City has foregone $540,000 in interest payments at discretion of administration. Back to the full article.
Stamper needs an econ 101 course. Seems like a very bad decision by the city to grant this loan. Let’s hope this new proposal pans out, but I don’t hold much hope.
Milwaukee taxpayers are going to be taken to the cleaners on this one. It is time for someone with some orbs to say that if a development cannot move forward without the taxpayers paying (or loosing) money for it, it just is not sound financially. Put in new streets or utilities perhaps, but for years the City was too poor to even pay its bills, and here they are pretending to be a bank. And worse yet…when this fails, Milwaukee will not even be able to come up with enough money to even afford to demolish the site (think NORTHRIDGE).
Poor financial decisions, ignoring experts, and a 15% raise in salary.