tag:blogger.com,1999:blog-30130444.post49432426633763442..comments2024-02-16T09:00:32.845-06:00Comments on FromDC2Iowa: UI Held Hostage Day 465 - May Day, May DayUnknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-30130444.post-76734081320630722212007-05-01T13:57:00.000-05:002007-05-01T13:57:00.000-05:00Re: TIF, Economic Development, etc.I won't attempt...Re: TIF, Economic Development, etc.<BR/><BR/>I won't attempt to defend the business fighting assessments. All I will say is that many people fight their assessments and the big boys are not the only ones who sometimes win in these cases. Assessors are a separate form of government in Iowa. They file their own budgets, have their own reporting, etc. They are under a board of elected officials from jurisdictions within their counties. Only the bigger cities such as Iowa City have their own assessors.<BR/><BR/>Public Officials are in a no win situation regarding economic development. Face it; Iowa and it's communities compete in a global marketplace in which it has distinct disadvantage in labor costs. Production has two inputs: Capital (K) and Labor (L). K generally follows lower cost L since L makes up a large % of costs. If we did not develop incentives and work to bring business and jobs, we would get criticism for not doing anything. TIF is not a perfect tool, but when you don't have a lot of tools in your box, you have to make due with what you have.<BR/><BR/>Unlike the pro stadiums, Kinnick's renovations were paid for by it's fans and Iowa's alums. I believe their will be a tipping point in the public subsidization. Seattle has basically decided it won't do anything for the Supersonics wanting a new arena. If the cities are going to invest that much in these teams, and they appreciate so much (George Steinbrenner bought the NY Yankees in 1973 for $10 million, they are worth more than $1 billion today), they should consider buying the teams. They are quasi-public institutions anyway in some cities. In Green Bay they are owned by the public, and that adds much to their appeal to the people of Wisconsin.Anonymousnoreply@blogger.com